a very important step in our growth strategy.

Demand for energy will double in the next decade. Energy supply is fundamental to societal value.

Credibility takes years to build, but a few hours to destroy.

We haven't ever before seen such sharp increases in costs as over the past two years. It's more than $200 per ton. It has to do with rising energy costs, with rising alumina costs. This increase puts pressure on the weakest smelters.

We need to expand outside Norway given that the Norwegian continental shelf won't be able to deliver the growth we need,

I would not like to see women coming into my board where there is a clear suspicion they are there because of a legal framework and not because of their competence.

We need regulatory clearance which we do not expect to be a problem.

Having paid for these assets we'll still remain within the long-term gearing target the board has set.

Businesses or factories where we cannot restore profitability to an acceptable level will be closed or sold.

We believe that the deepwater potential in the Gulf of Mexico is considerable,