Energy transition: London and Oslo will form an “industrial partnership”

British Prime Minister Keir Starmer is in Norway on Monday where he is due to announce with his Norwegian counterpart Jonas Gahr Støre a future “green industrial partnership” in terms of renewable energies and carbon capture, according to a press release from Downing Street.

This partnership, which will be formally signed in spring 2025, will enable the UK “to seize the opportunities of a new era in clean energy, boosting investment in the UK and creating jobs immediately and throughout the world. future,” Keir Starmer said, quoted in the press release. The content of this partnership has not been specified at this stage.

London has committed to having completely carbon-free electricity production in 2030, to reducing its greenhouse gas emissions by “at least 81%” by 2035 compared to 1990, and to becoming carbon neutral. in 2050.

Never again exposed to international energy price spikes

The government announced in early October an investment of 22 billion pounds sterling (24.5 billion Swiss francs) over 25 years to develop carbon capture and storage in two former industrial areas in the north of England.

“Our partnership with Norway will make the UK more energy secure, ensuring we are never again exposed to international energy price spikes and the whims of dictators like (Russian President Vladimir) Putin.” , insisted Keir Starmer.

This partnership “will be important for creating more green jobs in Norway and the United Kingdom, and for advancing the ecological transition,” declared Prime Minister Jonas Gahr Støre, quoted in the same press release.

A floating wind farm project in Scotland

The two countries already have extensive energy relations, with Norway being a major gas supplier to the UK, and several of its companies already having a strong presence in the UK market.

The giant Equinor has joined forces with the British BP in several carbon capture and storage projects in the United Kingdom and the Vårgrønn company is also involved in a floating wind farm project in Scotland.

At the beginning of December Shell and Equinor also announced their intention to merge their hydrocarbon assets in the United Kingdom into a new entity owned equally by the two groups.

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