Official Inauguration

Your Excellencies, Ladies and Gentlemen,
We live in one energy world.  We are all interconnected. “Energy for ONE world.”
The topic for ONS 2008 is timely and pressing.

I believe everyone here today recognise the challenges facing us.
And as an energy producer, Norway will do its part to overcome them.

The petroleum history in Norway has been an adventure.
I am proud of our activities and the contribution they make to the Norwegian society and welfare.  

We have developed a world class petroleum industry. 
We still have considerable recourses: So far only 1/3 of our total petroleum resources have been produced.

Of the remaining resources almost 60 % is expected to be natural gas. 
Norway will continue to be a long term reliable supplier of natural gas to Europe.
The Government will provide a stable economic framework for the petroleum industry.

There can – however – be no doubt that the industry will have to continue its adjustments to stricter regulations regarding climate, environment and safety issues. 
 
For Norway it is not a question of either petroleum or renewable energy, but both. 
Besides our petroleum resources, Norway is  also the world’s 6th largest producer of hydropower.

Incredibly 60 per cent of the Norwegian energy consumption is already based on renewable energy!

We have successful industry clusters in wind and solar energy.
At the R&D level there are exciting developments within osmotic power and offshore wind energy where the long term potential off the coast of Norway is enormous.

And finally – we have just launched a strategy for developing more bio energy, which is in abundance in the Norwegian forests.

Norway has been blessed with great natural resources.
But the petroleum adventure would not have started forty years ago without men and women who dared to think big and who dared to transform visions into reality.

Once again – through hard work – we have to transform the visions of today into the reality of tomorrow.

Arguably the greatest scientist of all times, Albert Einstein, once gave an exam to his secretary so she could copy it to the students for the exam the day after.
His sectary looked at the assignment and said:
But, Mr Einstein, this is the same exam as you gave last year.
Mr Einstein looked at his secretary and said: I know, but this year the answer is different. 

I don’t mean that the answers are completely different this year.
The world still needs oil and gas in the decades to come.  But we have become acutely aware of the climate challenges.

We need the same initiative and the same boldness to face today’s challenges as the petroleum pioneers proved forty years ago.

I am glad to see that the petroleum industry takes initiative to provide new answers.

Carbon capture and storage is one example. It provides an option for sustainable use of fossil fuels.

And – it is becoming reality: Within 2014 our goal is to have a full scale facility installed at the Mongstad power plant.

Offshore windmills is another example where technology transfer from the petroleum industry benefits renewable energy production.
There is great potential for synergies between our energy sectors.
 
I am therefore especially pleased that – for the very first time – a renewable energy park will be opened here at ONS by His Royal Highness Crown Prince Haakon later on today.

I would also like to commend the ONS for the efforts to attract young people to the petroleum business.  To write the new answers we need new thoughts.

Let us all make sure that ONS 2008 is one of the steps in transforming visions into reality.