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(upbeat music)
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The past couple of years have seen a lot of change
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in the energy markets in Europe.
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Changes around energy security,
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changes around energy transition.
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As a leading gas pipeline and midstream operator,
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how are you thinking
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about the energy transition in Europe?
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You know, after the war started
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and also the events in the Eastern Sea,
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of course, we know,
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how important it is
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for Europe to receive reliable Norwegian gas.
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So we have done, of course, a lot to make sure that
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we are, as we have been,
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a reliable supplier to Europe.
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And also the results lately have proven that.
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We have in fact, delivered what we call winter volumes
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in summertime last year.
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How are you thinking about energy transition,
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the transition to green gas electrification,
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as a threat, as an opportunity, or as both?
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It's an opportunity.
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We do forecast for how much gas can we deliver
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from the Norwegian Continental Shelf
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and how can we utilize the Norwegian grid,
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which is 9,000 kilometers of offshore pipelines,
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you know, with the size of over 40 inches.
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How can we utilize this?
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So firstly,
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we collect data from all fields
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on a Norwegian Continental Shelf,
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and we put that into a transport plan.
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So that transport plan then tells us,
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when is the capacity available to use that capacity
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for other sources than natural gas.
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And that's my kind of key into renewables.
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Also,
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CCS,
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carbon capture and storage,
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utilizing the pipeline system for CO2
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and then the possibility to also produce hydrogen
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from natural gas.
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In terms of existing pipelines,
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possible blending of hydrogen,
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possible blending of biomethane, e-methane,
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how do you think about the opportunity
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for blending hydrogen in your pipelines?
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My starting point as an operator,
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is that there are, you know, there are
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market who wants to have this as a new opportunity,
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a mix of natural gas and hydrogen.
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But then, I also need to look at the producers.
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So when there are concrete kind of producers,
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which have projects launched and come to Gassco
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and say that, "We have this project with this volume,
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we need to transport it to the market."
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What is the best solution to do so?
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How can we set this up to get this going?
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So that's our job.
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It's obvious that in the past 18 months,
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after the invasion of Ukraine,
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the role of Norway as an energy partner
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for Continental Europe has changed
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to, from important to extremely important.
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When we do the math, the transportation of some of these
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new gases and fuels and pipeline
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is by far superior from a cost and efficiency point of view.
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If you are Norway, Inc.,
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Norway as a whole society,
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why not lean ahead?
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Why not build as many hydrogen ready pipelines south
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and as many carbon ready pipelines north as possible,
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knowing that that will put the country
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as a whole on the left hand side of the supply curve
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for Europe for a century?
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Firstly, if you look at the development
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on the Norwegian Continental Shelf,
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starting with I think kind of,
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going into new value chains,
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which is maybe the most important thing
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and that is to establish the CO2 value chain.
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We have six licenses
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on the Norwegian Continental Shelf for storage of CO2.
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We started with this on the Norwegian Continental Shelf
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in the mid-nineties.
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Now, we see that there's a lot of projects
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on these licenses coming up.
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So we have a kind of a trunk line with CO2.
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Yeah.
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Which we can then utilize for CO2
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from Norway,
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from hydrogen production,
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but also to take CO2 from the continent
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and back to Norway
Yes.
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to store it on the Norwegian Continental Shelf.
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Yes, I look at the plans
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from the European organization of TSOs.
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I look at the plans from Brussels, from the commission,
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and I look at history in terms of the speed
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with which we've built out these types of infrastructures.
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And I look at those two
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and what we've done the last 50 years,
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we now need to do in the next five.
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So it's an eight or 10 times speed,
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if I just look at the
Yeah.
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at the number of capacities of pipe you need to put in.
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Are you seeing a step change in the way we do things
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or is this dreaming?
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The most concrete plan we have is to establish
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a hydrogen pipeline within 2030.
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That is only seven years.
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What we have done now, is that this is,
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this is based on volume.
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So there are two concrete projects in a way,
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which gives the volume to this pipeline system.
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And that is very concrete,
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but it will be possible.
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If we,
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as the plan is to develop the specification,
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which we are doing now,
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and if there are kind of agreements
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within the producers and the sellers to kind of,
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make sure that there is enough volume
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to take the investment decision,
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then I think it's possible.
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I don't say it's easy.
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But if I look at the plan, it's possible.