Norway will contribute to providing energy security for Europe also in the future. However, we cannot escape the fact that currently there are challenges tied to this statement. This is not least due to the low oil price, high cost levels and the need for technical innovations in the context of a decline scenario.

2008 is the year when oil prices spiked then collapsed, and the world went into recession. What awaits us in 2009? Today, I will say it is a very unpredictable year. But this can to some extent be compensated through careful planning and actions from governments and industry – both separately and combined. READ MORE