Today the Norwegian Minister of Petroleum and Energy Mr. Einar Steensnæs met with the Vice President of the European Commission Ms. Loyola de Palacio inAmsterdam. In this meeting Mr. Steensnæs underlined the need for a continued energy policy dialogue with the EU. Norway is a major exporter of oil and gas to the European Union, andNorwayis participating in the European internal market for energy. Mr. Steensnæs expressed thatNorwayand the European Union share common views on important energy policy issues.

During the meeting, Mr. Steensnæs and Ms. de Palacio exchanged views on key issues such as security of energy supply, on the renewable initiative from the Johannesburg summit 2002 and on the future solutions for capture of large European CO ₂-emissions.

- My impression is that both the EU and Norway share views on several security of supply issues related to oil, gas and electricity discussed on global scale, in the EU and on national levels. Norway is a stable and secure supplier of natural gas to the EU, and a Norwegian production level of approx. 120 bcm annually from 2010 is possible, said Mr. Steensnæs .

-Norwayis committed to a positive outcome of the International Conference, Renewables 2004, inBonn1- 4 June. I expressed that we should increase the efforts to promote sustainable energy solutions for the future, including renewable energy sources, informed Mr. Steensnæs.

Mr. Steensnæs expressed that we need innovative actions and solutions for CO ₂ capturing on European level. This would include the injection of captured CO ₂ from major sources in Europe into oilfields in the North Sea to enhance oil recovery. This could become a “win-win” situation with increased energy security, reduced emissions of CO ₂ and further technological developments and cooperation.

Mr. Steensnæs told that a continued energy policy dialogue between Norway and the EU was agreed with the Vice-President.