Ladies and gentlemen, chairman,
I would like to thank all the speakers today for very interesting and inspiring presentations. I would also like to thank the audience for challenging questions and ideas throughout the seminar. Last but not least, I would like to thank our chairman who has done an excellent job taking us through this seminar.

It is a demanding task to wrap-up this seminar, but I will nonetheless try to sum up on some general points and give my views on some of the issues that have been discussed today.

This morning, I started out by asking WHY we are here today. In the course of this seminar, I think we have established that CO ₂ capture and storage could play an essential role in the development of a more sustainable energy system for the future, and that limiting CO ₂ emissions from energy generation is a key challenge.

Where are we today – status on the technology and geology of carbon capture and storage Now; WHERE do we stand today?

I think it is important to stress that a sustainable energy future requires broad efforts in all sectors. We should aim at implementing the most cost-efficient measures first. The environmental benefits gained by energy efficiency measures, including energy saving and the implementation of existing technology to reduce emissions, is significant. Energy efficiency measures are in general relatively cheap, and would be important not only for the energy sector, but also in other sectors such as transportation. An additional point is that in many parts of the world a change from goal to gas would represent an important environmental gain.

I have noticed that both researchers and technology contractors point to the immediate concern of developing more energy efficient fossil power generation. This point is particularly valid for today's coal fired power plants. I think it is important to utilize these technologies contribution to a less emission intensive power generation before we reach the next step of technologies. As today’s detailed presentations have elucidated, there is still a way to go before we reach the point of commercial and efficient emission free power generation.

However, when the cost of CO ₂-emissions increases, and the cost of capturing CO ₂ decreases, carbon capture and storage could be a cost-efficient option for the future. Injection of CO ₂ to enhance oil recovery in producing fields could contribute to move this option forward.

The challenge concerning efficient capture of CO ₂ in power generation processes is obviously to decrease costs. The existing post combustion technologies are not economical viable. Scientists estimate power production costs almost to double if CO ₂ capture technology is added to conventional combined cycle gas stations today. The international CO ₂ Capture Project has, however, brought up promising prospects. Today we have learned that intensive commitment to development of new pre- or post- combustion technologies might bring down the costs in future. I am pleased that these issues are high on the industry's agenda.

The geological potential for storing CO ₂ is huge both in Europe and worldwide. We need to be confident that stored CO ₂ remains separated from the atmosphere, and we need to build trust among the public that this is a safe and environmentally sound option. Several storage projects, such as the Sleipner project, have given us valuable information on the behaviour of CO ₂ - with promising results. The world needs more projects of this kind to move along the learning curve. A number of projects – both commercial and R&D projects – are planned.

How do we get there – the international dimension
So, – HOW can carbon capture and storage become a viable option?

First of all, a strong international framework on climate change is a key in order to create sufficient incentives for the technology to develop. The Kyoto protocol is an important first step.

I am also convinced that carbon capture and storage can only be achieved through broad international cooperation and information sharing at all levels and between all stakeholders. Arenas such as the Carbon Sequestration Leadership Forum as well as the International Partnership for the Hydrogen Economy are important in this regard, and Norway takes an active part in both these forums. Equally important is the collaboration between governments, research and industry within the International Energy Agency (IEA).

I strongly support EUs efforts and ambitions in addressing the cost-challenge by advancing the technology through research. A strong international and EU focus on these issues is a precondition for rapid technology development. The EU conference on CO ₂ capture and storage earlier this month underlined the EUs dedication in this regard – both from an energy, environment and research point of view. I sincerely hope to see an even stronger emphasis on carbon capture and storage in EU's 7 ^th> framework programme.

I am proud of the high competence and the prominent role of Norwegian research institutes and industry throughout the portfolio of EU-research programmes. As we have heard earlier today, activities connected to development of new technologies for CO ₂ capture and storage have been ongoing and increasing for several years in Norwegian companies and research institutions.

How do we get there - the contribution from Norway
As opposed to the discussion on carbon capture and storage in most countries, the Norwegian debate on this issue is very much intertwined with the discussion of gas fired power plants.

From a Norwegian point of view, recent years have distinctly illustrated that a more secure energy supply requires an energy system that has increased capacity and is less dependent on hydropower as an energy source. In this context, an important element in the Norwegian future energy policy is to create conditions for the development of environmentally friendly alternatives to hydropower. Gas fired power plants is indeed an interesting option in this respect. The Government's aim is to contribute to forward-looking and more cost-effective solutions, which may lead to an earlier realization of full scale zero emission gas fired power generation.

The establishment of Gassnova - a new public facility lead by today's chairman to promote technologies for carbon emission abatement - will be a main instrument in developing these technologies. The financing source for Gassnova's projects will be the returns from a gas technology fund of NOK 2 billions. In 2005 Gassnova will administer approximately NOK 100 million.

In addition, a national gas technology program, CLIMIT, is established, operational from January 2005. Gassnova and the Research Council of Norway will collaborate on this program. The program will prioritise research, development and testing of technologies for gas fired power plants with CO ₂ capture and storage.

The issue of carbon capture and storage is high on this Government's agenda, both from the perspective of increased oil recovery and as a possible way of mitigating climate change. The work undertaken by the Norwegian Petroleum Directorate, with contributions from several oil companies will be very valuable to me. As underlined by Gunnar Berge in his presentation, there are interesting opportunities and prospects for using CO ₂ for enhanced oil recovery on the Norwegian Continental Shelf, but also significant challenges. CO ₂ competes with other methods for enhanced oil recovery. CO ₂-injection is not a commercial option at the NCS today. A main challenge, and, many would argue, a paradox, is the need for large volumes of CO ₂ at a competitive price. This brings us back to the crucial point of motivating technology development in order to bring down the costs of capturing CO ₂.

As I said earlier, I look forward to studying in more detail the results from the NPD-report. The report constitutes an important basis for the Governments further evaluations. As announced earlier, the Government will revert to this in the budget for 2006.

Norway can not solve the issue of carbon capture alone. We need to join forces with international industry, research institutions and other governments. I have had interesting discussions with the British energy minister on questions related to carbon capture and storage, and hope to see a strong focus on these issues from the British EU-presidency this autumn. The issue is also a key part of my energy dialogue with the EU Energy Commissioner. As you may know, the Ministry of Petroleum and Energy has also initiated the establishment of an informal governmental forum on CO ₂ for enhanced oil recovery, joined by Denmark and the UK, and with the European Commission as an observer.

Conclusions
To sum up, I favour a realistic outlook when discussing carbon capture and storage. Internationally, we need to be focused and determined in our long-term strategy. That said, I am optimistic that with an ambitious strategy which includes continued support to research, development and demonstration, we are on the right path towards a low-carbon future.

Thank you very much for your attention!