After election victory, the PM of Norway says that Norway must continue to be a reliable supplier of energy

Norway will continue to explore oil and gas, and remain a reliable energy supplier to Europe. This was the message of newly elected Prime Minister Jonas Gahr Stoere on Tuesday. On Monday, the minority Labour Party won a second mandate in office while the populist rights achieved their best ever election results. The ballot was dominated by worries about rising living costs and conflicts in Ukraine and Gaza. After the left-wing victory in the election, the focus now turns to the loose coalition of five parties, called the "tutti Frutti" coalition, and how they will govern fiscal policies, oil and natural gas production, and the $2 trillion sovereign fund.

"It is a good outcome." It's an obvious result. This shows that social-democrats of the centre left can win elections, even when winds are blowing from right," Stoere said to reporters outside his Oslo official residence.

The prime minister said that Norway, which supplies one-third of Europe's gas, should continue to search for hydrocarbons.

He said: "We will remain a reliable partner but also take technological steps forward, reduce emissions, and live up our climate commitments." (Reporting and editing by Stine Jacobsen, Terje Solsvik)

(source: Reuters)