Facilitating the Energy Transition with Technological Advancements and Innovations - COP 28

Ladies and gentlemen,

Dear friends,

It is my pleasure to address you here at the Norwegian pavilion here in Dubai, as we discuss how we can aid the energy transition with technological advancements and innovations.

We are about to put a challenging year behind us. Although we see more stability in the energy markets than a year ago, there are still many hurdles to cross.

Geopolitical tensions.

Unstable energy markets.

And we see the impact of climate change at an even higher rate.

2022 was a record year for greenhouse gas emissions.

Here, at COP28, the world's leaders have to agree on an ambitious and realistic way forward in line with the goals of the Paris Agreement and the Sustainable Development Goals.

 

The bottom line is: The transition is not going fast enough.

The investments we need to succeed in reaching our common climate goals are not big enough.

We, as politicians, have a role to play by providing policies and frameworks.

However, we must highlight the important role of companies - who see opportunities - when markets seek green and sustainable solutions.

It makes me very proud to see so many Norwegian companies represented at COP28, 140 companies give or take.

Companies helping to drive the energy transition forward and take a strong position the global market.

Nature has given us the opportunities.

For more than a century we have developed hydropower.

In half a century we have become experts in offshore operations.

This has given us specialised skills, coping with deep water, strong currents and heavy wind.

These skills have proved useful when we have moved into new areas.

Skills which also will come into good use in solving the challenges ahead.

 

We need to adapt for the future and make political decisions that will lead us to a net zero emission society.

And - adapt for a future where energy still may be used as a weapon.

Norway contributes to the European energy security by being the biggest gas producer for the continent.  On average, Norwegian gas is produced with much lower emissions than gas produced in other countries.

The knowledge and technology development offered by the Norwegian oil and gas industry is already being used in new, green energy production and clean tech. Offshore wind is one example, CCS or hydrogen are others.

 

Let me be clear. If we are to reach our goals, we need the expertise, experience, and commitment of our energy industries, whether it’s renewables, petroleum or a bit of both.

In that respect, I want to take this opportunity to thank Norwegian Energy Partners not only for hosting us here today, but also for contributing to the internationalisation of Norwegian energy industries.

And not least, in regard to what we are discussing here today:

In a world which may seem dark and challenging – make us see light and opportunities.

I wish you all a successful COP28, you are most welcome - and needed.

Thank you.