Norway will never turn its back on the North Sea as Britain has done, the country's energy minister has said.
Terje Aasland told The Telegraph that Norway had “a totally different view” to the UK on the oil and gas industry which he said creates jobs and wealth.
Mr Aasland said: “We want to develop [the North Sea] for the long-term, because the oil and gas industry and the service industry is really important. It saves jobs and creates a lot of value for Norwegian society.
“I think in the UK, the oil and gas industry has contributed in just the same way – until now.”
Ed Miliband, the UK's Energy Secretary, has banned all new drilling for oil and gas in the North Sea as part of his bid to help Britain hit net zero by 2050.
In addition to banning North Sea licences, Labour has increased the so-called windfall levy on oil and gas producers which charges a 78% tax on their profits.
Asked what the impact of such policies would have had on Norway, Mr Aasland said: “We would have seen investments going to other places in the world.”
He added: “I think if you want to support industry for the long-term, you have to be predictable, you have to have a stable framework, and you have to work together with the industry."
Norway became Britain’s primary source of gas last year as UK output shrank in the wake of the windfall tax and a ban on new licences.
Click here to read the full story in The Telegraph.