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Norwegian Elections and a Post-oil Europe
11/09/2021 14:27
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Event report available
Norway is today the second-largest exporter of natural gas to the EU, behind only Russia. Although not an EU member, through EEA and EFTA, Norway plays a significant part in EU energy policy supplying oil and between 18%-25% of the EU’s gas demand. For Norway, oil and gas equals about half of the total value of its exports, making them the most important export commodities in the Norwegian economy.
With a fragmented electorate, though, any Norwegian government coalition building looks to be dependent on the smaller parties, and they are calling for an end to oil and gas exploration. In a surprise move after trailing in the polls and with just two weeks before the election, incumbent Prime Minister, Erna Solberg’s government proposed overhauling how it taxes the companies that extract petroleum.
Some say, the changes risk calling into doubt the stability of the petroleum based foundation of the Norwegian fiscal system and risks upending current EU energy policy. What does this hold for a post-oil Europe and how will it impact the politics of Norwegian oil and gas importers (Germany, the Netherlands, Sweden, France, Belgium, Denmark and others)? How should the future relation between the EU, Norway and the whole EFTA zone look like?
Event report
The new possible government parties oppose new oil and gas discoveries, but existing ones will continue for between 5-8 years. Once those are exhausted, the EU will have to look for new suppliers (if renewables do not replace them by then). Russia will continue to offer itself in its role as energy supplier to try to create dependency. Projects like Nordstream 2 show that some EU states are willing to take this and underestimate the strategic risk for other European states. To prevent this, the EU should pursue the following: - Renewable energy should replace fossil fuels, energy projects such as the use of thermal waste should be promoted and new policies adopted. We should no longer be based on fossil fuels in 2030. - If natural gas is still needed, then suppliers should be diversified (for example, LPG gas) - Nuclear energy should be considered as fallback security
15
September 2021
18:00 - 19:00
Number of participants
11
Reference: cofe-MEET-2021-09-43132
Version number 4 (of 4) see other versions
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Interessante Veranstaltung mit Teilnehmer:innen aus der ganzen EU.
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