Equinor’s chief executive Anders Opedal envisages a new North Sea energy ecosystem to address the energy crisis in Europe, which he said could be an example of how to move forward in a “balanced” energy transition.

The North Sea has historically played a large part in European energy with traditional oil and gas, but the region is developing a network of other energy sources, including blue hydrogen – made from natural gas with carbon dioxide emissions captured and stored – and offshore wind.