Caspian Energy (CE): How does the Norwegian Government currently view the long-term development of its energy sector, particularly in balancing oil and gas production with decarbonisation goals?
Terje Aasland, Minister of Energy of Norway: Norway’s ambition is to combine a competitive energy industry with ambitious climate policies. Oil and gas will remain important for European energy security, while the industry continues to reduce emissions. Since 2015, emissions from the Norwegian oil and gas sector have fallen by around 27 per cent, supported by one of the world’s highest carbon prices and investments in low-emission solutions such as electrification and carbon capture and storage.
CE: What are the key priorities for advancing offshore wind development in Norway, including floating offshore wind, and strengthening its role in the national energy mix?
Terje Aasland: Offshore wind is a key priority for the Norwegian Government. We are developing offshore wind step by step, in a responsible and balanced way. Our goal is to increase renewable power production, strengthen energy security, support industrial development, and build on Norway’s strong offshore expertise. We have already awarded areas for both bottom-fixed and floating offshore wind, and the floating projects at Utsira Nord will help develop new technology and reduce costs for future projects. Later this year, we will present a roadmap for the next phase of offshore wind development in Norway.
CE: How is Norway addressing growing electricity demand from electrification, industry, and emerging technologies while ensuring system stability and continued security of supply?
Terje Aasland: Meeting growing electricity demand requires both more power generation and a stronger grid. We have strengthened the energy authorities, accelerated permitting processes, simplified grid development and are investing heavily in both generation and transmission. At the same time, we are promoting energy efficiency to make better use of the power system we already have.
CE: How do you see Norway’s contribution to European energy cooperation developing in the coming years, including through natural gas supply and emerging low-carbon technologies such as hydrogen and carbon capture and storage?
Terje Aasland: Norway will remain a reliable energy partner for Europe. Our natural gas continues to play an important role in European energy security, while we are also building new value chains in low-carbon technologies. Through projects such as Longship and Northern Lights, Norway is helping to develop commercial carbon capture and storage solutions that can contribute to emissions reductions across Europe.
Thank you for the interview.