Norway Defies EU Moratorium on Arctic Oil and Gas Drilling

Norway's Energy Minister Terje Aasland has stated that his country will continue to develop its oil and gas resources in the Barents Sea, despite the European Union's position on a moratorium on Arctic hydrocarbon supplies.

Aasland believes that continued activity in the Barents Sea serves both Norwegian and European interests, particularly in light of Russia's 2022 invasion of Ukraine. Norway has become Europe's largest supplier of natural gas, meeting around 30% of EU and Britain's gas demand.

The minister also mentioned that oil output in Norway reached its highest level since 2009 last year, while gas production was near record levels. However, official forecasts show production falling sharply after 2030 unless new resources are discovered and developed.