Green energy and clean technology
Norway is a unique location for energy-intensive industries with ambitions for reducing their carbon footprint.
Norway is a treasure chest when it comes to renewable energy. 98% of electricity production in Norway is renewable, and in a typical year, Norway produces more energy than it consumes. This leads to extremely competitive prices and minimal greenhouse gas emissions.
We welcome energy-intensive, international companies with climate ambitions to Norway.
A Global Green Processing Industry
Since the beginning of the last century, international companies have strategically placed their metal processing and extrusion operations in Norway. Highly efficient hydropower plants are located in the fjords with access to deep water ports. Today, the industrial sector consumes approximately 50 TWh of power annually, and comprises a significant share of overall value-added in Norway.
In 2017, Norway’s exports amounted to a total of USD 153 billion. Many of our export-intensive industries are based on access to low-cost, reliable, and clean energy. In fact, metal alone accounted for approximately 6.2% of total exports (USD 9.5 billion) in 2017.
Norway is extremely ambitious with regards to achieving the UN sustainability goals. The Norwegian process industry recently developed a roadmap for carbon neutrality by 2050, as a response to the Paris Agreement. The advantages of selecting a site in Norway are therefore manifold, as there is an entire ecosystem across the country with world-leading expertise on how to be sustainable and highly profitable.
Circular economy and carbon management
Within the circular economy, we would especially like to highlight the opportunities within CCU, Carbon capture and utilization and storage. Norway is a very competitive country for CCUS; we have a long history and thus knowledge on carbon capture and storage through our oil and gas industry, we have a surplus of renewable power to produce green hydrogen and we are building a national highway for CO2 transport, making available large quantities of CO2.
Although Norway has focused primarily on CCS, the recycling or utilization of carbon (CCU) is a new industrial opportunity that Norway wants to pursue. It is also a necessity in a world where the natural biomass is not sufficient to supply the population and where the use of fossil hydrocarbons have to be reduced due to the climate challenge.
We would like to invite foreign companies and investors to set up CCU facilities, to do testing or demo or to invest in some of the ongoing projects in Norway.
Norway’s main advantages within CCU are
- A surplus of renewable energy to produce hydrogen
- The possibility of producing blue hydrogen through steam reforming of natural gas with CCS
- An extensive experience and knowledge of CCS from our oil and gas industry
- The national CCS project and the Northern Lights project
In Norway today, there are several projects on carbon capture and utilization, including projects on producing e-fuel, both from a chemical process but also by using biotechnology (fermentation). There are projects on producing PHA (plastics) and also a very exciting project on producing single cell protein, targeted towards the large aquaculture market in Norway.