Both Norway and the UK’s governments have agreed to a joint energy venture that will see the two countries exchange strategies in both conventional and alternative energy sectors.
As per the agreement, the UK will serve as the main gas consumer with Norway continuing to supply natural gas. Both governments have highlighted the necessity of natural gas by saying it was vital to obtaining energy security. They also stated that they would continue to work closely to prepare for any unforeseen emergency gas supply disruptions.
The gas companies in both regions are preparing for an offshore storage facility to be built to contain the influx of natural gas. The UK and Norway have both urged that the North Sea resources could give rise to major improvements in the green energy market’s output of clean electricity.
The joint statement also reiterates the importance of the North Sea wind energy products, which both believe could provide a key, cheap energy source using shared bilateral technology. London’s Office of Gas and Electricity Markets, the UK government’s natural gas and electricity regulator said that the region could begin to see the gas crisis in full swing before 2015.
The North Sea has recently been heralded as having the world’s highest potential capacity for wind and tidal power. Many alternative energy groups have begun to petition for projects in the area, and the world’s largest tidal turbine was just shipped there to be installed.
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