Finland appreciated the report presented by Jorma Ollila in Oslo on Tuesday for developing Nordic energy cooperation over the next 5–10 years.

The report was presented to the Nordic Council of Ministers and to Norway’s Minister of Petroleum and Energy Terje Søviknes, said an official press release. Norway is currently holding the Presidency of the Nordic Council of Ministers.

The report contains 14 proposals for closer cooperation. According to Finnish businessman Ollila, responding to the challenges ahead should begin by establishing a clear vision for Nordic energy cooperation. Jorma Ollila is a former chairman of Royal Dutch Shell.

In January 2016, the Nordic Council of Ministers commissioned Jorma Ollila to conduct a strategic review of Nordic energy cooperation. The analysis is also part of the reform work that aims to improve the effectiveness of the Council of Ministers.

“The Ollila report provides an excellent basis for developing Nordic energy cooperation. I fully agree with the aims. Creating the smartest energy system in the world and finding the most cost-effective solutions for the transition to a green economy will require extensive cooperation and a market,” said Minister for Housing, Energy and the Environment Kimmo Tiilikainen.

“Energy cooperation should focus on sectors in which we have common interests within the European Union, too. By cooperating in energy research and innovation we can achieve greater efficiency and impact. Natural areas of research for the Nordic countries would be smart power grids, smart cities and transport. The Clean Energy Ministerial (CEM9) meeting and the Mission Innovation Ministerial meeting (MI-3) to be arranged through cooperation between the Nordic countries and the European Commission and held in May 2018 will be an excellent opportunity to present our joint expertise to a wider international audience,” said Tiilikainen.

Tiilikainen also notes that Ollila’s main ideas on the electricity market are in line with Finland’s aims. It is important to develop the market together with the Baltic countries and the entire European Union.

“My own experience also supports the report's proposals for closely linking the operational work of the Nordic Council of Ministers to the EU preparatory work and the process of getting our views across,” emphasised Tiilikainen.

Minister of Economic Affairs Olli Rehn stated at that time that the EU’s plans for an Energy Union will bring new opportunities and challenges to the Nordic countries in the field of energy cooperation. Rehn also considered Ollila to be the best choice to head the review process on this matter which is of importance for Finland.