Norway resource energy solutions

Why is Norway an energy-rich country?

As an energy-rich country, Norway is in a unique starting position with respect to the energy transition. An abundance of affordable hydropower has enabled the development of energy-intensive industries and a high level of electrification of homes and businesses with limited GHG emissions.

Why is energy management important in Norway?

It is an overriding goal to ensure high value creation through the efficient and environmentally-friendly management of the country’s energy resources. Modern Norway was built and industrialised when we started to utilize rivers and waterfalls to produce electricity.

How does Norway manage petroleum resources?

Norway has long experience of managing petroleum resources in a way that promotes sustainable economic growth and Norwegian welfare. We are now sharing this experience with 12 other countries through the Oil for Development programme. Norway is the world’s sixth largest hydropower producer, and the largest in Europe.

Why is Norway a major energy producer and exporter?

At the same time, as a major oil and gas producer and exporter, Norway will need to support an evolution of its energy sector amid a global energy transition. Thanks to its ample reserves of oil and natural gas, Norway is a net energy exporter: in 2020, 87% of its energy production was exported.

Is Norway a natural gas exporter?

Thanks to its ample reserves of oil and natural gas, Norway is a net energy exporter: in 2020, 87% of its energy production was exported. From a global perspective, Norway is the seventh-largest natural gas producer in the world, supplying 3% of global gas consumption.

Why is the oil and gas sector important in Norway?

The oil and gas sector is Norway’s largest one based on value added, revenues, investments and export value. As such, the sector plays a critical role in the Norwegian economy and in financing the Norwegian welfare state.