Norway 2022: Energy Policy Review – Event
Norway remains a global pillar of energy security, providing the world with stable supplies of environmentally friendly produced oil and gas. Norway has updated its already ambitious targets for reducing greenhouse gas emissions, with plans to achieve reductions of 90-95% (excluding sinks) from 1990 levels by 2050.
Norway still has a long way to go to achieve these ambitious goals. Given that its electricity generation is already almost zero emissions and the country has significantly electrified its energy demand, many of the easy wins to reduce emissions have already been achieved. The remaining reductions will be more complex, difficult and costly, especially in transport and industry.
Norway has many natural assets to facilitate a successful energy and climate transition. In particular, it can be well placed to lead the world on new technologies to decarbonize hard-to-reduce sectors, such as electric vehicles, carbon capture and storage, and hydrogen, if the right policies and incentives are put in place. in place.
In this report, the IEA provides energy policy recommendations to help Norway effectively manage the transformation of its energy sector in line with its objectives.