Norway Defies EU Moratorium on Arctic Drilling

Norway plans to continue exploring for oil and gas in its Arctic waters, despite the European Union's moratorium on drilling. Energy Minister Terje Aasland stated that Norway will pursue increasing its oil and gas supply to meet demand in Europe, which has had to contend with Russian oil and gas import bans.

The EU's moratorium was enacted in 2021 due to climate commitments and environmental concerns. However, Aasland believes that continued activity in the Barents Sea serves both Norwegian and European interests.

Norway aims to maintain oil and gas exports at current levels until at least 2035. The country has been lobbying the EU to drop its opposition to drilling in the Arctic, citing the importance of reliable energy supply from outside conflict zones.