Norway Defies EU Moratorium on Arctic Drilling

Norway's Energy Minister Terje Aasland has reaffirmed the country's commitment to exploring for oil and gas in its Arctic waters, despite a European Union moratorium on Arctic drilling. The EU imposed the ban in 2021 due to climate commitments and environmental concerns, but Norway believes continued activity in the Barents Sea serves both Norwegian and European interests.

Aasland stated that production in the Barents Sea is crucial for Norway to meet its goal of maintaining oil and gas exports at current levels until at least 2035. He also emphasized that the Arctic must be part of the discussion to ensure a reliable supply of oil and gas to Europe.

Norway has been lobbying the EU to drop its opposition to drilling in the Arctic, citing the need for European energy security. Even Fatih Birol, executive director of the International Energy Agency (IEA), has suggested that the EU should reverse the moratorium on Arctic drilling as it is extremely important for European energy security.

Aasland's comments come ahead of one of Norway's biggest energy conferences in Stavanger, which starts on Monday. Norway is not an EU member but a close ally and the single biggest gas supplier to Europe.