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ONS: Investment and rational use key to bridging energy gap
By Lianne Qvale
Realtimenews@ONS
STAVANGER, Norway
Petroleumworld.com 08 25 06The Norwegian minister of petroleum and energy assured delegates at the 2006 Offshore Northern Seas (ONS) energy conference that Norway, the world's third-largest exporter of oil and gas, is a vital contributor in the worldwide industry effort to bridge the energy gap.
Minister Odd Roger Enoksen explained that access to acreage is the most important condition for materializing the full petroleum potential on the Norwegian Continental Shelf. However, he cautioned that companies must have the time and capacity to absorb the acreage made available to them.
"In my evaluation of the 20th licensing round, I will emphasize a balance between the industry's need for additional acreage and the need for new information about an area before additional awards can be made," he said.
The Norwegian Petroleum Directorate, recognizing enhanced oil recovery is crucial for future competitiveness and value creation, has set ambitious goals over the next 10 years, including a target of 5 billion barrels of extra oil reserves by 2015. The government supports this goal, which calls for increased research and development.
Enoksen told conference delegates that state funding of petroleum research and development amounts to approximately 50 million euros a year, and roughly 25 percent of the allocated funds are assigned to Enhanced Oil Recovery projects.
"The Norwegian government is committed to contributing to new and alternative energy sources, allocating 2.5 billion Euros in a fund to boost the production of renewable energy, including the production of bio energy, wind power, small-scale hydro power and increased energy efficiency," said Enoksen.
Renewable energy sources coupled with efficient use of energy were also key points expressed by European Union (EU) Commissioner for Energy, Andris Piebalgs.
Primary energy demand in the EU is expected to grow to almost 1,900 million tonnes oil equivalent by 2030. Oil will remain the principle energy source, closely followed by gas, and up to 90% of the demand will have to be met by imports.
Renewable and alternative energy sources can help to bridge the widening energy gap, according to Piebalgs. "I believe we need to continue to move forward towards greater market penetration of these energy sources in the EU over the next decades," he said.
However, he maintains that one of the most effective ways to tackle the widening energy gap is by encouraging and enforcing the rational use of energy – doing more with less. "There is little room to maneuver to influence the EU supply side, so the real option for the EU is to act on the demand side," he stated, citing possible savings of up to one-fifth of current consumption.
Promoting energy behavioral changes through public awareness, education, and training; improving financial incentives for energy efficiency; and promoting global energy efficiency in trade, are some of the key points in the Energy Efficiency Action Plan to be presented by Piebalgs next month.
The Offshore Northern Seas Web site: www.ons.no.
Realtimenews@ONS 23 08 06
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