Norwegian Prime Minister Jonas Gahr Store told reporters that such adecision would need to be taken in close coordination with "like-mindedcountries".
"Norway stands ready to recognise the state of Palestine," Store told ajoint press conference with Sanchez.
"We have not set a firm timetable," Store added.
In November, Norway's parliament adopted a government proposal for thecountry to be prepared to recognise an independent Palestinian state, reports BSS.
Norway also hosted Israeli-Palestinian peace talks at the beginning of the1990s, which led to the Oslo Accords.
Sanchez is currently on a tour of Poland, Norway and Ireland this week todrum up support for the recognition of a Palestinian state, according to aSpanish government spokesperson.
Speaking alongside Store, Sanchez said Spain was "committed to recognisingPalestine as a state, as soon as possible, when the conditions are appropriate,and in a way that can have the most positive impact to the peace process."
On March 22, Spain issued a statement with Ireland, Malta and Slovenia onthe sidelines of an EU leaders summit, saying they were "ready to recognisePalestine" in a move that would happen when "the circumstances are right".
Last week, Sanchez told reporters travelling with him on his Middle Easttour that he hoped it would happen by the end of June.
Store on Friday said that he welcomed Sanchez's initiative to consult amongcountries to "strengthen coordination".
"We will intensify that coordination in the weeks to come," Store said. The Spanish leader has repeatedly angered Israel with his outspokencomments since the start of the war between Israel and Hamas.
The war in the Gaza Strip erupted after Hamas's unprecedented attack onsouthern Israel that resulted in the deaths of 1,170 people, mostly civilians,according to an AFP tally based on official figures.
Israel's retaliatory offensive has killed at least 33,634 Palestinians, most of them women and children, according to the health ministry in Hamas-runGaza.