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Canada and Norway to cooperate in energy resource development

Joe Oliver, Canada’s Minister of Natural Resources, and Ola Borten Moe, Norwegian Minister of Petroleum and Energy, signed a joint statement on cooperation in the energy sector.

Minister Moe is visiting Canada; the Globe and Mail http://www.theglobeandmail.com/report-on-business/norways-energy-minister-voices-support-for-alberta-oil-sands/article2223077/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=2223077 that the Energy Minister is backing Canada in its fight with the European Union over a fuel-quality directive that discourages the use of oil sands bitumen, saying the world needs more Canadian crude production.

The statement notes that both countries are significant producers and exporters of petroleum and significant producers of electricity produced from hydro power; are Arctic countries; and are emphasizing the need to develop commercially viable carbon capture and storage (CCS) technology to help mitigate climate change.

 

The statement outlines four main priorities for cooperation between Norway and Canada in the energy sector:

  1. General. Norway and Canada will hold regular meetings at both the political and official levels between their energy ministries.

  2. Oil and gas. In this area, the two will continue and refine bilateral relations in the petroleum sector on a mutually beneficial basis; facilitate the continuous exchange of information on issues related to sustainable petroleum activities; contribute to the further development of industrial cooperation and implementation of oil and gas projects on a commercial basis; and work cooperatively to ensure that regulatory measures are based on sound science and are fair and non-discriminatory.

  3. Renewable energy. Norway and Canada will: continue to seek opportunities for cooperation in the renewable energy field on a mutually beneficial basis, and with particular attention to hydro power; and as appropriate, share experience related to legislation and regulation of the development, production, transmission and distribution of hydro power and other renewable electricity.

  4. Carbon capture and storage. The two countries will: encourage information-sharing on domestic CCS policies, and research, development and demonstration (R,D&D) programs; work together in the Carbon Capture, Use and Storage (CCUS) Action Group of the Clean Energy Ministerial under Major Economies Forum to ensure that key actions to address the challenges to the global deployment to CCS are presented to Ministers of energy at the next Clean Energy Ministerial in London in 2012; work together in the Carbon Sequestration Leadership Forum (CSLF), including “ensuring ambitious outcomes” and effective use of the Capacity Building Fund to support CCS in CSLF developing member countries.

Comments

HarveyD

Eastern Canada's coastal and St-Lawrence Delta areas could benefit from Norway's know how to develop known and future local oil reserves to satisfy Eastern North American markets.

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