In the second part of my presentation I will briefly review the key areas of techno logical change for the energy industry and give examples of where and how these developments inf luence the industry. Technological progress as such is predetermined. Especially starting from where we are at present, it is hard to envisage a future without major breakthroughs. The type of growth will, however, be dependent on the economic and political environment. In an open, growth-oriented world, new technologies can be developed for the world market. This creates good profit opportunities for new products and processes, and justifies substantial R&D expenditures. There is likely to be a further shift towards consumer goods and services, a market where survival depends on being creative and competitive. The emphasis will of course be different in world where each country pursues protectionist policies.