Meeting between Vice-President of the European Commission Ms. Loyola de Palacio and Minister Mr. Einar Steensnæs of the Royal Norwegian Ministry of Petroleum and Energy on 29 January 2003, in Brussels

Commission andNorwayagreed today on the common wish to further develop energy relations and co-operation. In a meeting held today inBrussels, Vice President of the Commission, Loyola de Palacio and Minister Einar Steensnæs, of the Royal Norwegian Ministry of Petroleum and Energy, stressed their common political desire to strengthen their dialogue. Norway is a major exporter of oil and gas to the European Union and, through the EEA Agreement, an integral part of the internal energy market.

During the meeting, both Loyola de Palacio and Einar Steensnæs underlined the great importance of the dialogue between Norway and the EU, which will reflect the interests of both energy producers and consumers. This dialogue should also take into consideration the importance of the relations with Russia, which has become a major partner of both Norway and the EU, in particular in the Northern Dimension framework. Both sides have a major interest in the development of Transeuropean Energy Infrastructure.

Loyola de Palacio and Einar Steensnæs discussed the oil market in the near and medium term and emphasised the need to maintain energy prices at a stable and reasonable level.

Recent developments in the completion of a single European Energy Market also represent a major common interest between the EU and Norway. Among the priorities are the gas supply and the promotion of renewable energy in the internal electricity market, but issues relating to energy savings and efficient use of energy will also be a substantial part of the discussions.

Loyola de Palacio and Einar Steensnæs also highlighted the great importance of meeting energy demand in a sustainable manner and thereby contributing to the security of energy supply. They both welcomed the results of the Johannesburg Summit and committed themselves to the success of the Plan of implementation.

They considered that a strengthened dialogue between Norway and the European Union is of great mutual interest and must therefore continue on an annual basis on issues of mutual interest.