Arctic gas from Norway unlikely to aid Europe's energy security before 2040s

A coalition of Norwegian business and political interests is lobbying the EU to abandon its 2021 ban on Arctic oil and gas drilling, arguing it is essential for future energy security. While the EU is currently reassessing its Arctic strategy, the union has no authority over Norway’s northern waters, though a more supportive stance could give companies greater market certainty. WWF-Norway released a report on 21 September indicating that any new Arctic gas field found in early 2027 would likely not reach production until the early to mid-2040s, given an average 18.7-year development period and no Barents Sea field ever coming online in under 14 years. Consequently, the report concludes that such gas would arrive far too late to meaningfully bolster Europe’s energy supply.