Norway Says Era of Oil and Gas Production Isn’t About to End

(Bloomberg) --

Norway Finance Minister Siv Jensen said she sees no reason why the oil and gas her country produces can’t be part of a future focused on sustainable energy.

Speaking in an interview with Bloomberg Television on Tuesday, Jensen said it’s important to focus on emissions but that the debate needs to be more nuanced to ensure that more efficient forms of fossil fuel production aren’t discontinued.

The richest Nordic nation has long argued that it’s unrealistic to think that oil will no longer be needed in the future. Norway is therefore making the case that it should be the last producer to stop drilling because its operations have some of the lowest emissions of greenhouse gases.

Jensen, who is part of a center-right coalition in the richest Nordic nation, said Norwegian oil and gas companies are more efficient than others in their production. Jensen also noted to the Norwegian currency, the krone, is no longer as correlated with the price of oil as it once was.

To contact Bloomberg News staff for this story: Tasneem Hanfi Brögger in Copenhagen at tbrogger@bloomberg.net

To contact the editor responsible for this story: Tasneem Hanfi Brögger at tbrogger@bloomberg.net

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