Norway will continue developing Arctic oil and gas fields in the Barents Sea regardless of European Union policy, Energy Minister Terje Aasland said on Monday, underscoring the country’s commitment to maintaining its role as Europe’s largest natural gas supplier.
Speaking ahead of Norway’s biannual ONS energy conference in Stavanger, Aasland dismissed EU calls for a moratorium on new Arctic drilling, asserting that such restrictions would undermine Europe’s energy security. Norway has supplied roughly 30% of the EU and Britain’s natural gas demand since Russia’s 2022 invasion of Ukraine, a role Aasland described as vital for continental energy resilience.
The minister framed Arctic development as a strategic necessity, arguing that the Barents Sea’s ice-free conditions—comparable to the North Sea—minimize spill risks while sustaining jobs in northern regions near Russia. "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. Oslo has set a 2035 target to maintain current petroleum production and export levels, though official forecasts project output falling sharply after 2030 without new discoveries.
Aasland criticized the EU’s previous "green battery" concept, which envisioned Norway as Europe’s renewable energy storage hub via power interconnectors. He noted that existing links to Britain and Germany left Norway exposed to continental electricity price volatility, ruling out further interconnector projects. "The future lies in having a very strong and integrated system," he added, emphasizing the need for a resilient, self-sufficient energy framework.
The EU has historically opposed new Arctic drilling on environmental grounds, but its stance has softened amid energy security concerns. International Energy Agency Executive Director Fatih Birol recently urged Brussels to reconsider its opposition to Arctic oil and gas projects to bolster supply stability. Norway’s Arctic oil will target global markets, while gas exports can be shipped worldwide as liquefied natural gas via Equinor’s Melkøya LNG plant near Hammerfest.
Norway’s oil output last reached 2009-era highs in 2023, with gas production near record levels following the disruption of Russian supplies. The government maintains that Arctic development is a sovereign right, independent of external policy positions.
