1 week ago
Norway to Continue Arctic Drilling Despite EU Moratorium Position
Norway wants to keep drilling for oil and gas in the Arctic’s Barents Sea.
Its energy minister says this will help Norway and Europe have enough energy.
The European Union supports stopping new Arctic drilling because of environmental concerns.
However, the EU is considering whether energy-security worries should change that policy.
Norway says some Barents Sea areas are ice-free and less exposed to certain environmental risks.
The country also says the projects support jobs and communities in northern Norway.
Norway used to describe its hydropower as Europe’s “green battery,” but the minister now says that idea was flawed.
He said Norway will keep cooperating on electricity but will not build new power links.
Energy Minister Terje Aasland said Norway will develop Barents Sea oil and gas regardless of the EU’s position.
Norway aims to keep petroleum production and exports near current levels until at least 2035.
The EU supports a moratorium on new Arctic drilling but is reconsidering its stance over energy-security concerns.
Norway says Barents Sea activity supports European supplies, environmental safeguards, jobs and northern settlements.
Aasland called Norway’s “green battery” strategy flawed and said the country will not build new power interconnectors.
- Who
- Norway, represented by Energy Minister Terje Aasland, and the European Union.
- What
- Norway will continue developing oil and gas resources in the Barents Sea despite the EU’s support for an Arctic drilling moratorium.
- Where
- The Barents Sea and Norway’s northern regions; the policy affects energy supplies to Europe.
- When
- Aug. 24, ahead of Norway’s ONS energy conference.
- Why
- Norway says continued activity is needed to sustain oil and gas production, support European energy security, and maintain jobs and settlements in the north.
Norway and Energy-Security Supporters
Environmental Critics and Moratorium Supporters
Need for new Arctic supplies
Norway and Energy-Security Supporters
Norway and International Energy Agency Executive Director Fatih Birol argue that continued or new Arctic oil and gas development can support future European energy security.
Environmental Critics and Moratorium Supporters
Critics argue that new Arctic projects would take many years to begin production and would do little to address Europe’s near-term energy challenges.
Environmental risk
Norway and Energy-Security Supporters
Norway says the Barents Sea areas opened to petroleum activity are ice-free like the North Sea and therefore less prone to oil spills and other environmental impacts.
Environmental Critics and Moratorium Supporters
The European Union supports a moratorium on new Arctic drilling because of environmental concerns.
Norway’s role in Europe’s energy system
Norway and Energy-Security Supporters
Aasland says continued oil and gas exports and strong power-sector cooperation serve both Norwegian and European interests.
Environmental Critics and Moratorium Supporters
Opposition in Norway has grown over power interconnectors because deeper integration exposed the country to higher European electricity-price swings.
Key facts
- Norway’s gas role
- Norway supplies around 30% of the natural-gas demand of the European Union and Britain.
- Production outlook
- Official forecasts show Norwegian production falling sharply after 2030 unless new resources are discovered and developed.
- Production target
- Norway aims to maintain petroleum production and exports at roughly current levels until at least 2035.
- EU position
- The European Union currently supports a ban on new Arctic drilling on environmental grounds.
- Gas export option
- Norwegian gas could be exported worldwide as liquefied natural gas from Equinor’s Melkoeya plant near Hammerfest.
- Power interconnectors
- Norway will not build new power interconnectors but remains committed to cooperation with Europe’s power sector.
Quotes
Terje Aasland
Norway’s energy minister
““In today’s geopolitical and security environment, and given the resource situation, I believe continued activity in the Barents Sea serves both Norwegian and European interests,””
theprint.in
““We would develop these areas, and then it will be up to the EU whether they should have a moratorium on buying that gas or oil,””
theprint.in
Sources
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