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Meeting global energy challenges

November 21, 2006, 15:00 CET

The world's energy challenges were the main topic at a seminar arranged by the International Energy Agency (IEA) and Statoil in Oslo on 21 November.

For the second year running, the IEA and Statoil are collaborating on the Norwegian launch of the agency's World Energy Outlook annual analysis.

The IEA presented the current energy situation and trend expectations towards 2030 at the Oslo seminar.

"On its current course, the future global energy situation is a vulnerable, dirty and expensive one," said the IEA's chief economist Dr Fatih Birol when he presented the analysis.

If current trends continue up to 2030, world energy security will be more vulnerable. Global energy consumption will increase and carbon emissions will increase even more, according to the IEA.

"This is not sustainable development," says Mr Birol.

An alternative, sustainable energy scenario is also presented in the IEA's analysis. Here, the rise in energy demand and carbon emissions are significantly lower, and costs are also lower.

As an energy producer, Statoil is well-positioned to meet future energy challenges, chief executive Helge Lund said at the seminar.

"Statoil's most important contribution to increased energy security is to deliver growth in the most sustainable way possible," says Mr Lund.

"There are two cornerstones in Statoil's strategy for growth. We will maximise value creation on the Norwegian continental shelf while at the same time building international platforms for growth."

He believes technology development will play a decisive role in meeting climate challenges and mentioned Statoil's efforts to reduce emissions through carbon capture and storage.

At the seminar, Rune Bjørnson, Statoil's executive vice president for Natural Gas, presented the structural changes in the European gas market while special adviser Tor Kartevold discussed oil price developments.