The European Commission Vice-President Maroš Šefčovič and the EU Commissioner for Climate and Energy, Miguel Arias Cañete recently presented a roadmap for the future energy mix in the EU. The energy security package confirms that gas is very important for the EU’s energy security and is vital for its ability to meet its climate goals.
“The message is clear; the demand for natural gas in the EU will be substantial for years to come. We have the resources to meet this demand, says CEO of The Norwegian Oil and Gas Association, Karl Eirik Schjøtt-Pedersen.
The package clarifies that natural gas will play a crucial role in the European energy mix until 2030 and beyond.
“Natural gas is the cleanest of all fossil fuels and is the bridge between coal and renewables”, said Miguel Arias Cañete. He underlined that switching from coal to natural gas is an important contribution to the reduction of the EUs carbon emissions.
“Norwegian natural gas will play an important role in reducing the use of coal, thereby helping to reduce CO2 emissions in Europe. For every unit of coal that is replaced with natural gas, greenhouse gas emissions are reduced by fifty percent”, says Schjøtt-Pedersen.
Furthermore, Cañete underlined the role natural gas plays as backup to renewable energy; underlining that the EU long-term strategy envisages natural gas as the best partner for renewables.
The message from the EU is that natural gas is an essential part of the EU energy mix. This is a clear marching order for the Norwegian petroleum industry, as long-term demand provides security for new investments.
“For the Norwegian oil and gas industry, this package is a source of optimism and gives us the confidence that we can invest further on the Norwegian shelf, knowing that there will be a market for Norwegian gas for decades to come”, says Schjøtt-Pedersen.