Norway Favours Stable Energy Prices

Norway Favours Stable Energy Prices

India wants to partner with Norway in areas such as trade and energy in the backdrop of Prime Minister Narendra Modi attending the India-Nordic Council Summit.

In an interview, Ingvil Smines Tybring-Gjedde, Norway’s deputy minister of petroleum and energy, spoke about the need for a stable energy market with the supply cut actions of Organization of the Petroleum Exporting Countries (Opec) and Russia helping in reducing the risks of future price spikes. Edited excerpts:

Do we see Norwegian state-run firms such as Statoil ASA partnering with Indian companies?

Statoil is a partly state-owned company, with 2/3rd of it owned by the Norwegian state. But even being the majority stake holder, we don’t interfere with the business…But what I see is for the Norwegian companies as a whole, and Statoil is one of them, is that India is a really interesting market. You have a huge population, which is growing fast and you need energy. And you also need to work together with foreign companies such as Statoil or other companies to make that happen. Read More

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