Norway to Push Arctic Drilling Despite EU Moratorium Push

Norway will press ahead with oil and gas exploration in the Barents Sea even if the European Union maintains its call for a moratorium on Arctic drilling, according to Energy Minister Terje Aasland.

In an interview ahead of the ONS energy conference in Stavanger, Aasland said continued activity in the Arctic serves both Norwegian and European interests, given the current geopolitical climate and the need for reliable supplies. He noted that Norway has become Europe's largest natural gas supplier since Russia's 2022 invasion of Ukraine, meeting roughly 30% of combined EU and British demand.

Official forecasts show Norwegian production declining sharply after 2030 unless new fields are developed. Aasland said Oslo aims to keep output near current levels until at least 2035, with the Barents Sea playing a central role. "If Norway is to remain a long-term supplier of oil and gas to Europe, then the Arctic must be part of that discussion," he said.

Norway has argued that the areas opened for drilling in the Barents Sea are ice-free, similar to the North Sea, reducing environmental risks. Aasland said it is Norway's sovereign right to develop these resources regardless of EU policy, adding that any oil or gas produced would be sold on global markets, with gas potentially exported as LNG from Equinor's Melkoeya plant.

The International Energy Agency has also urged Brussels to reconsider its stance, citing future energy security needs. Critics counter that new Arctic projects would take years to develop and would not address immediate European supply concerns.

Aasland also dismissed Norway's earlier self-image as Europe's "green battery," calling it a flawed idea. While Norway exports surplus hydropower, he said the country alone cannot balance the continental power market. Oslo will not build new interconnectors but remains committed to cooperation, urging European nations to strengthen their own stable power generation to lower prices and improve reciprocity.