Energy Transition Outlook Norway 2024
Energy Transition Outlook Norway 2024 describes DNV’s view of the most likely development of Norway’s energy future. It is the fifth year we publish this forecast for Norway, building on DNV’s independent, global model of the world’s energy system.
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Selected highlights
- Norway is the second-most electrified country in the world, but its electricity demand will double by 2050
- Wind power is the only available scalable option to meet this demand
- But it comes too late and will likely create an annual electricity deficit of 10TWh in the early 2030s
- Norway provides 30% of Europe’s natural gas and will remain central to Europe’s energy security and green transition, while Norway’s oil exports will fall to 15% of current levels by 2050
- Norway’s emissions reduction goals are far from being met, with emissions falling only 27% from 1990 to 2030
The report describes DNV’s view of the most likely development of Norway’s energy future. It is the fifth year we publish this forecast for Norway, building on DNV’s independent, global model of the world’s energy system.
