Although the UK only gets five percent of its gas from Russia, the Government has still been scrambling to avert a crisis and shore up supplies as the cold winter months approach. And with the energy price cap (maximum annual tariff) expected to soar to £2,800 in October, it appears that Britain needs all the help it can get to drive down bills. Stepping in, non-EU member Norway has already been a reliable supplier – the UK’s major one – unlike Russia which has sparked emergency gas warnings across the EU.
Now, it could be set to further ramp up its exports to help Britain cope with the crisis.
Leif Johan Sevland, CEO of Norway’s ONS Foundation, told Express.co.uk: “The energy supply is challenged and we need to find other ways to secure our energy supply.
“I think Norway has a lot to offer, which is still ongoing, and there will be more gas to come from Norway to the UK. “
And there are plenty of opportunities for the countries to partner up, particularly in the North Sea, which both nations share.
Mr Sevland who is also the former Mayor of Stavanger in Norway said: “There are a lot of projects where industrial partners are working very closely together, and there have been benefits.
“The world will need oil and gas for a long time. The North Sea has investment opportunities in that perspective.
“Norway and the UK have had a strong relationship for generations and will continue to do so… the UK is extremely close to us.”
Mr Sevland said this will allow Norway and the UK to strike up an ever closer bond that will help to boost energy security.
He said: “There will be plenty of projects, It is only the beginning and we will see energy hubs like BP have been developing.
“We will see that the UK and Norway will be closer than ever. This will not only drive prices down but also give supply in a sure way and ensure that it is a predictable supply.”
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This comes after a report revealed that by 2030, around 80 percent of UK gas supplies will need to be imported from abroad without more investment.
Offshore Energies UK’s (OEUK) report indicates that the amount of gas from Norway exceeded UK supplies in 2021 for the first time.
That year, the UK consumed 76 billion cubic metres (bcm), of which 32bcm were supplied by Norway while 29bcm came from the UK continental shelf.
But despite relying on imports, it appears the UK is still better off than countries like Germany thanks to this predictable supply.
Germany, on the other hand, relies on Russia for a third of its gas and is now on the verge of being forced to ration gas after Moscow slashed its pipeline supplies.
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The country’s Vice-Chancellor Robert Habeck has also urged citizens to limit consumption for the time being, and has warned that industrial output will take a hit.
The country has also been building up a reserve fleet of coal power plants to prepare for the worst as the winter approaches.
Slovakia, France and Italy have also seen their imports of Russian gas plummet due to the cut which Gazprom blamed on a delay to the repairs of crucial infrastructure.
While Gazprom, the Kremlin-controlled gas giant, blamed the delays on Western sanctions, Mr Habeck has claimed that the move was a “political decision” intended to drive up prices.
Russian President Vladimir Putin has also warned he will cut gas off from “unfriendly countries” that failed to pay for his gas in rubles after March 31.
But many EU nations refused over fears it would undermine sanctions slapped on Russia over its Ukraine war.
Russia has already cut gas from the Netherland, Poland and Bulgaria because of this.
Denmark also reported earlier this month that its gas supply had been cut off for refusing to comply with the Russian ruble demand.