Page 11 - EurOil Week 01 2023

EurOil ENERGY TRANSITION EurOil

Germany, Norway team up on renewables,

other low-carbon tech

EUROPE NORWAY and Germany have announced plans renewable energy,” Norwegian Prime Minister
to expand their cooperation in the development Jonas Gahr Store said in a statement. “I greatly
The two countries of renewable energy and other low-carbon tech- value our close cooperation with Germany. It has
referred to offshore nologies, their governments announced on Jan- been a long time since Norway was this impor-
wind power, hydrogen, uary 5. tant to Germany – and Germany to Norway. Our
battery technology and The two countries referred to offshore wind collaborative efforts will help us to achieve our
carbon capture and power, hydrogen, battery technology and carbon common goals of green industrialisation and
storage as areas they capture and storage as areas they would focus on. lower emissions.”
would focus on. Norway is now Europe’s biggest natural gas sup- An additional agreement on strategic collab-
plier following Russia’s loss of market share over oration was signed between Norway’s Equinor
the past year. And the country also hosts signifi- and Germany’s RWE. The agreement covers
cantly offshore wind and carbon storage poten- projects that contribute to European energy
tial. The Norwegian government estimates that supply and accelerate Germany’s transition to
the country’s continental shelf could store up to hydrogen, envisaging Norway as a key supplier
1,000 years of national emissions, and it is eager of the fuel.
to provide this capacity to the rest of Europe. RWE CEO Markus Krebber noted that blue
“These are challenging times in Europe due hydrogen, derived from natural gas, would be
to the war in Ukraine. The energy crisis has necessary to produce in the short term, and sub-
highlighted Norway’s importance as a reliable sequently phased out in favour of green hydro-
supplier of gas to Europe, but it has also under- gen, produced via renewable energy-powered
scored the need to accelerate the transition to electrolysis from water. ™

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