Norway vows to keep Barents Sea drilling despite EU moratorium stance

Norway’s energy minister, Terje Aasland, announced that the country will press ahead with oil and gas projects in the Barents Sea irrespective of the European Union’s backing of a moratorium on new Arctic hydrocarbon supplies. He emphasized that continued activity in the region aligns with both Norwegian and European interests, especially as Norway aims to keep petroleum production and exports at current levels until at least 2035.

Aasland highlighted that the Barents Sea zones slated for development are ice-free, reducing environmental risk, and that they support jobs in Norway’s northern border areas. While the EU is weighing a policy shift due to energy-security worries, Aasland said Norway retains the sovereign right to produce and will let the EU decide whether to ban imports. He also noted that Arctic oil would find global markets and that liquefied natural gas could be shipped from Equinor’s Melkoeya plant near Hammerfest. International Energy Agency chief Fatih Birol has similarly called on the EU to reconsider its opposition to new Arctic projects.