In Swedish, at least, the a has two dots over it, ä, so it's pronounced more like our short e. And the g at the end is pronounced almost like our y. So älg is pronounced kind of like elly. Linguistically, the word is related to our elk.
A few months ago, I saw some of these critters on my cousin's farm in Sweden (not far from the Norwegian border).
Just so,as per the German umlaut, for which I don't know the HTML cheat-code offhand. In Dutch and Afrikaans they're called eland; in Finland it's hirvi, possibly derived from the Lapp word- my resident expert on such things, who I hope enjoyed at least one more out of season steak before passing on, advised me that poaching was still a popular pastime in the Karelean peninsula around Juuka and Nurmes, often with leftover WWII [Jatkisota] Moisin-Nagan military rifles not otherwise legal for the taking of moose due to their too-small 7,62x53r caliber.
I don't know the word in Norwegian, either, but it's probably more likely a Swedish or Germanic language derivitive than some of the other possibilities. My dad and grandma would have known, but sadly I didn't pick much of it up from them.
-archy-/-