Marine Minerals - Norwegian value creation potential, report by Rystad Energy

November 2020

The Rystad report shows the large expected demand increase for minerals due to the green shift, and the great potential this industry can have for Norway. It also shows that much is in place for Norwegian industry to take a global leading role in seabed minerals.

Rystad nominates different scenarios which color how a marine minerals industry could evolve in Norway over the next 30 years. In their most constructive scenario, they estimate that such an industry could create annual revenues worth of USD 20 billion with corresponding annual employment up to 21 thousand FTEs.

This sets the stage for building an industry based on a home-market with significant export potential, like Norway has done in deepwater Oil & Gas: A key ingredient to building the 120 bNOK export industry that we currently have in deepwater Oil & Gas was to create a leading domestic industry while the global market was in its infancy.

That timing is now for marine minerals.

Rystad energy report front page