OREANDA-NEWS. October 05, 2015. The Norwegian University of Science and Technology (NTNU) and Statoil signed an agreement on research funding for future energy solutions.

With a total budget of NOK 50 million over four years, Statoil and NTNU wish to build up a world-leading research group to develop sustainable energy solutions.

The group will also assess the market prospects and effects of various kinds of climate policy. The first step is to recruit an internationally renowned researcher with relevant expertise to guide our work and build up the research group, which will be based at NTNU in Trondheim.

“Statoil’s ambition is to be a leader in shaping the future energy society. Development of new technologies and solutions through industrial cooperation and collaboration with the best research and development institutes in the world are a key factor in this,” says Statoil CEO Eldar Sotre.

Earlier this year, Statoil and GE launched the technology-based Powering Collaboration programme to find industrial solutions to reduce the environmental impact of oil and gas production.

Statoil also has partnerships with leading international academic institutions such as the Massachusetts Institute of Technology (MIT), where we and other industrial companies develop knowledge about new energy solutions through the MIT Energy Initiative.

“In Norway, NTNU represents top-class knowledge and research in key strategic areas for Statoil and we look forward to solving new demanding challenges together,” says Lars Hier, Statoil’s head of research.

Increased, safe and sustainable access to energy is a key challenge for the world community.

“Norway has both opportunities and responsibility to help deal with this challenge through the production of more environmentally friendly energy. Collaboration with Statoil will help to strengthen the knowledge base for this production,” says NTNU Rector Gunnar Bovim.

Oil and gas will still account for a large share of the future energy mix, but growth in energy supply will mainly come from new energy solutions. Renewable energy, energy efficiency and carbon capture and storage will all play a major part in the coming decades.

Statoil’s financial contribution will be NOK 5 million annually for four years. Statoil also wishes to provide project funding linked to the initiative.

The agreement is part of the Akademia cooperative programme with NTNU, and Statoil has an option to provide funding for an additional four years.

NTNU has a similar budget to Statoil for the agreement, which means that NOK 50 million will initially be invested in future energy solutions.