(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 28. Energy landscape in
Europe has changed forever, Andreas Bjelland Eriksen, State
Secretary at the Ministry of Petroleum and Energy, Norway, said,
addressing the 9th Berlin Energy Transition Dialogue, trend reports.
“The energy crisis is important for Norway because our
neighboring countries are our most important trade partners. For
example, so it's not a good thing for Norway that they close down
industry in Europe, for example, and it is not a good thing for
Norwegian energy investments the kind of volatility and uncertainty
that we see in energy markets today. And then finally, on the
perspective of the crisis, it is also a crisis that hits us in
Norway as well due to the link between the power market and the gas
market. So, we have seen record high electricity prices in Norway.
That is challenging for Norwegians households, Norwegian industry
and businesses. It is very much a crisis that we are concerned with
in Norway, and we want to help work together with our neighboring
countries to bring prices back to normal levels as soon as
possible,” he said.
Eriksen believes that with the energy crisis, the energy
landscape in Europe has changed forever and there is no going back
to pre-war levels.
“So, I think even though the energy transition is happening much
faster than we perceived just a year and a half ago, and that is a
very good thing. Even on the Norwegian side, even though we have
100% renewable power generation in our mix today, hydro and
windpower, we need a lot of extra renewable electricity to be able
to get rid of our fossil fuel dependency and transform the
transportation sector where Norway really has taken a lead going
forward. So, the main challenge there is also for us to be able to
get sufficient amounts of renewable electricity on the grid fast
We see that the demand is ramping up really quickly. We will
have a lot of extra demand the next couple of years, demand could
increase by almost 50 percent only until 2030, and then we have to
do a lot in our energy system, Europe has to do a lot in their
energy systems, to be able to cope with that demand and the pace in
the energy transition that we see right now,” he added.
Follow the author on Twitter: @lyaman_zeyn
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.