Norway – The European Commission and Norway have agreed to intensify their collaboration for both short-term and long-term gas supplies.
Europe will have lower greenhouse gas emissions by 2030, and it will be better able to withstand the damaging effects of both climate change and Russia’s invasion of Ukraine.
Norway, the largest oil and gas producer in Europe, provides one-fourth of the EU’s gas needs, contributing significantly to the continent’s energy security. Norway’s main export market is the European energy market.
Guaranteeing gas supplies
The substantial oil and gas reserves of Norway, which the European Union and Norway have agreed to monitor, make a long-term energy supply for Europe beyond 2030 possible.
Timmermans, Kadri Simson, and Terje Aasland reached an agreement to intensify their collaboration in order to guarantee more long- and short-term gas supplies from Norway, to address the issue of high energy prices, and to build long-term collaboration on offshore renewable energy, hydrogen, CO2 capture, and storage in order to advance long-term energy research and development.
