1. A view to 2030 and the outlook for climate and energy policy Anders Marvik, VP Statoil EU Affairs

2. Current Situation Source : European Commission, available data EU GDP growth Subsidy lock-in of RES electricity generation in NPS Emissions target Development of technology Internet has 3mn users Internet has 2bn users First horizontal well in Barnett. Shale 1% of US NG production US world’s largest NG producer Shale 25% of US NG production ? ? ? ?

3. Challenge 3 Renewables target has led to unsustainable levels of subsidies ETS does not promote investments in low-carbon technologies Switch from gas to heavy carbon-emitter coal

4. What is needed A realistic single target for CO2 emissions The completion of the Internal Energy Market Technology-neutral & market-driven policy