As per both the government’s strategy, UK will serve as a key gas consumer with Norway acting as a natural gas supplier, according to UPI.com.
Both the governments highlighted the importance of natural gas by saying that it is a key component of energy security and further stated that they will jointly work on ways to prepare for any emergency gas supply disruptions..
The gas companies in the region are planning to set up offshore storage facilities to hold natural gas.
The UK and Norwegian governments stressed that North Sea resources could spawn growth in a green energy sector.
The joint statement also said that North Sea wind energy projects could provide a cheap energy source through bilateral technology sharing.
UK government’s regulator of natural gas and electricity, London’s Office of Gas and Electricity Markets, said that the region faces a gas crisis by 2015.
