Norway

Norway has set an ambitious target to reduce greenhouse gas GHG emissions by 40% of 1990 levels by 2030. Meeting the 2030 target will be challenging since the country’s electricity supply and energy use in buildings are already essentially carbon free, decarbonisation has to be sought in transport and industry.

Norway comprises part of the regional Nordic wholesale electricity market, widely regarded as a model for effective cross-border market integration. The Nordic market is becoming more integrated with other neighbouring market areas. The combination of high levels of interconnection and its large hydropower fleet means Norway can provide the region with a significant source of low-cost, highly flexible, and zero-carbon generation.
In order to meet its ambitious targets to reduce greenhouse gas emissions by 40% of 1990 levels by 2030 and to become a low-carbon society by 2050, Norway needs to step up efforts at home.

There is a major potential to do so in transportation, oil and gas production and manufacturing. In this context, a high level of public spending on energy RD&D and strong efforts to develop carbon capture and storage are very welcome.

Last updated Sep 12, 2022