Norway’s Energy Minister has said stricter global climate change rules could accelerate the closure of oilfields in the North Sea.
Tord Lien said he believed new climate change policy was primarily about changing the way markets work.
But according to reports in Norwegian media is said the country must prepare for more “stringent and expensive” mitigation.
Lien said it will affect the profitability of both the use and production of energy.
He said the Norwegian Oil and Gas Ministry was prepared for tightening but added that it could change the life of oil fields as well as their profitability and viability.
Lien said: “I can’t rule out that some fields may be closed earlier as a result of increasingly stringent global climate change policy.”
Recommended for you
