Norway's Minister of Petroleum and Energy Aslaug Haga welcomed the call issued by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud to set up an international fund to be in charge of conservation of environment and the contribution of the Kingdom of Saudi Arabia worth $300 million to establish the facility. In a press conference at Al-Faisalia hotel in Riyadh tonight, she said that she discussed during a meeting with the Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi the issues regarding this matter. In response to a question, she said her country is considering how to contribute to the proposed fund. During my meeting with Al-Naimi, we discussed oil market issues and the challenges facing many countries, most important of which is the climate change, expressing pleasure of the Kingdom's readiness to develop the technology relating to the climate change. We also discussed the issue of control on carbon dioxide and storing it since Norway and Saudi Arabia are both energy exporters, she said. She also lauded the outcome of her meeting with the Chairman of the Shoura Council, members of the council, and members of Human Rights Commission and lauded her visit to Saudi Aramco and the performance of Saudi cadres there. On the oil market situation, she said the view points of her country and Saudi Arabia are, to far extent, similar. We discussed matters relating to the oil situation in light of our confusion to where the U.S. economy was heading, she said. But we know that demand for oil is on the increase and that definitely there will be no shortage of supplies in the producing countries, she said, adding that demand for oil will continue to soar up to comply with growth, particularly in Asian countries like India and China. On energy renewable resources, she said Norway and Saudi Arabia consider that developing renewable resources is obvious. However, demand for oil and natural gas will continue for prolonged periods, she concluded.
