Norway and the EU share the same concerns about climate change and security of energy supply and are both set to use energy efficiency and stimulation of renewables as the main instruments to deal with these challenges. The Norwegian minister announced that his country will increase supply of gas to the European Union from 82.5 billion cubic metres to 130 billion cubic metres by 2010.
Norway is a major exporter of gas and oil to the EU. The Nordic country produces 99% of its total electricity from hydropower and can therefore export all its gas reserves. But this has led to high prices in Norway and according to some critics to its own "energy crisis" (worsened by hot summers with a lack of rainfall).
Enoksen admitted that, after 2010, Norway's oil production will decline. The EU is trying to convince Norway to explore the Barents' sea, which is supposed to harbour large amounts of unexplored oil reserves (see EurActiv 30 August 2006).
The next EC-Norway energy meeting will take place in June 2007. Experts will be preparing a joint EC-Norway Green Paper on security of demand and supply.
