Norway has signed an electricity trade agreement with the UK

On Thursday 16 September, Foreign Secretary Lars Andreas Lunde and British Ambassador Richard Woods signed an agreement between Norway and the UK on cross-border electric power trade and transmission connections for electric power, the Ministry of Petroleum and Energy said in a press release on Thursday. morning.

The agreement establishes general principles for electricity trade and will contribute to a predictable framework condition for electricity trade between Norway and the UK following the UK’s withdrawal from the EU. In addition, the agreement contains points of cooperation for the development of offshore wind and related infrastructure in the North Sea.

– I am pleased to sign a power trade agreement with the UK today. This agreement facilitates a predictable framework for energy trade and strengthens cooperation between our two countries. Today’s signing is a follow-up to the free trade agreement with the UK signed this summer, Lars Andreas Lunde, Secretary of State at the Ministry of Oil and Energy, said in a report.

Further, it appears that the agreement has been negotiated by the UK Ministry of Oil and Energy and the UK Ministry of Business, Energy and Industrial Strategy in parallel with the free trade agreement negotiations between the EEA countries and the UK, and is in line with the UK’s trade agreement with the EU.

The agreement contains no obligations for project implementation, and may be terminated with twelve months’ notice. The North Sea Link cable received its license in 2014 and is based on an agreement between Statnett and their UK partner, National Grid.

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