Save for later Print Download Share LinkedIn Twitter Norway has presented an energy transition road map for the country that embraces offshore wind, hydrogen and carbon capture, while also planning for an orderly shift away from oil and gas. This is in line with Oslo's goal of cutting greenhouse gas emissions by 50%-55% from 1990 levels by 2030. "The white paper ... demonstrates how renewable energy and the power grid are laying the foundations for electrification and the phasing out of fossil-fuel based energy," said Petroleum and Energy Minister Tina Bru. Over time, Norway's oil and gas production is seen declining 30%-45% by 2040 and 65% by 2050, but it will continue to hold regular oil and gas exploration licensing rounds and ensure new areas are made available to the industry. "The petroleum sector will remain a significant factor in the Norwegian economy in the years to come, although not on the same scale as today," she said (related).
