Oslo energy storage industry white paper

Will Norway's energy resources create a long-term value?

The much anticipated white paper on long-term value creation from Norway's energy resources (Norw: Meld. St. 36 (2020-2021)) was presented on 11 June 2021 with certain recommended legislative alterations, along with guidelines to the offshore wind application process.

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.

What is Norway's energy demand?

Moreover, Norway’s energy demand is highly electrified: in 2020, electricity covered almost half of the country’s total final consumption (TFC), the highest share among IEA member countries.

Is Norway a good exporter of electricity?

Norway is also historically a net exporter of electricity to neighbouring countries, reaching a record 20.5 TWh of net exports in 2020, making it one of the largest exporters in Europe. Norway is therefore well-integrated in the Nordic and European electricity markets.

Which energy storage technologies have been made a breakthrough?

Breakthroughs have been made in a variety of energy storage technologies. Lithium-ion battery development trends continued toward greater capacities and longer lifespans. CATL developed new LiFePO batteries which offer ultra long life capabilities, while BYD launched "blade" batteries to further improve battery cell capacities.

Is Norway a good oil producer?

Norway is also a significant oil producer, accounting for 2.3% of global oil production in 2020. As a reputable and reliable producer, Norway has played a stabilising role in the world’s oil and gas supply, particularly in meeting European demand.