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Norway to remain reliable, long-term supplier of gas to Europe: oil minister

Norway to remain reliable, long-term supplier of gas to Europe: oil minister

OSLO: Norway’s Minister of Petroleum and Energy Tord Lien said on Tuesday the Scandinavian country will remain a reliable and long-term supplier of gas to Europe as the European Commission confirmed the important role of gas in the continent.

In its sustainable energy security package presented earlier on Tuesday by Vice-President responsible for Energy Union Maros Sefcovic and Commissioner for Climate Action and Energy Miguel Arias Canete, the European Commission confirmed that gas will remain important in the European Union (EU)’s energy mix in the years to come.

“We appreciate that the Commission accords an important role to gas also in the years to come. Today’s proposal confirms the signals from my recent meetings with Sefcovic and Canete: the EU needs Norwegian gas,” Lien was quoted as saying in a statement.

“We have big remaining gas resources and Norway will stay a reliable supplier of gas to Europe in the long term,” he added.

The European Commission’s energy security package includes necessary proposals to equip the EU for global energy transition as well as to be prepared for possible energy supply interruptions.

The package sets out a wide range of measures to strengthen the EU’s resilience to gas supply disruptions, according to a statement of the European Commission, or the executive body of the EU.

These measures include moderating energy demand, increasing energy production in Europe (including from renewables), further developing a well-functioning and fully integrated internal energy market, as well as diversification of energy sources, suppliers and routes.

Furthermore, the proposals bring more transparency to the European energy market and create more solidarity between the EU member states, the statement said.

Norway is not a member of the EU but is part of the European Economic Area (EEA) and the European Free Trade Area (EFTA). It remains subject to the same single market regulations and the fundamental principles of the free movement of goods, services, people and capital as the 28 full EU member states.