Norway’s energy prospects may lie in natural gas according to a report by AFP.
As the country considers a future when its wealth of oil dries up, Norway will need to explore its options. Rune Bjoernson of Statoil told AFP that natural gas will be part of an energy solution for Norway. State-owned Staoil is among the world’s largest oil and gas producers and second only to Russia’s Gazprom in natural gas exports.
The world’s largest offshore reserve of natural gas lies beneath the Barents Sea. Russia and Norway recently agreed on border delimitations beneath the sea, which opens up potential for exploration in the area.
According to the article, the International Energy Agency (IEA) says global energy demand will be 40 percent higher in 2030 than in 2007, electricity demand will grow 76 percent and natural gas 42 percent.
-There is lots and lots of natural gas in the world and going forward it is going to be relatively cheap to produce, said Oestein Noreng, a professor of petroleum economics and management at the BI Norwegian School of Management in the article.
-Natural gas is also much cleaner than oil and coal. I think it has a bright future,” he told AFP.
