Energiministerens innlegg på Energy Horizon under ONS 2024

Check against delivery.

Dear energy friends.

It is a great honor to stand before you today at the opening of the ONS conference, a vital gathering that brings together the international energy sector.

As it was the last time we met at the ONS, these are times of geopolitical challenges. Energy security is still crucial - in fact the underlying theme of the entire conference.

At the same time, we must keep our eyes on the long-term challenge of the energy transition.

My key message is that Norway commits to solving both these challenges.

First, by ensuring our position as a reliable energy supplier to Europe. Despite a global shift towards renewable sources, oil and gas will remain necessary for the foreseeable future. Our Norwegian fields are expected to produce at high levels, and to sustain this, we need to invest in new capacities while decreasing emissions.

Second, we are committed to cut emissions in the petroleum sector by fifty percent by 2030 and reaching net-zero by 2050.

The transition we are embarking on does not necessitate the abandonment of oil and gas; rather, it calls for innovation and adaptation in how we produce and consume these vital resources.

Because, and this is my third and final point; our expertise in oil and gas will support advancements in clean technologies like carbon capture and offshore wind. We aim to expand offshore wind potential to 30 GW by 2040, enhancing renewable energy supply while providing industry opportunities, and much, much more.

Again, we believe it is possible to achieve both energy security and a sustainable transition at the same time. This transition must be just and inclusive, ensuring no one is left behind.

And the key is collaboration between industry and government as we aim for a net-zero economy, fostering decent work and quality jobs.

Collaboration and coming together is exactly what the ONS is about. For fifty years it has been the most important meeting place for the Norwegian petroleum industry and it has contributed significantly to the development of the industry both nationally and internationally.

Now, ONS shows an ability to adapt and lead in an energy transition that builds on the expertise from the oil and gas industry with new forms of energy, as well as carbon capture and storage.

I do not know exactly what the next fifty years will look like, but one thing is for sure: In a changing energy landscape ONS will continue to be a central platform for innovation, cooperation, and growth in the energy industry, and play a vital role in shaping the future of the industry.

Thank you for taking part here at the ONS and thank you for your attention!