Norway's Arctic Oil Pitch Falls Flat in Brussels
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The European Commission is rebuffing Norway's months-long campaign to lift its moratorium on Arctic oil and gas drilling, reaffirming its commitment to the ban due to climate and environmental concerns. Despite Europe's energy security challenges following Russia's supply cuts, Brussels shows no signs of reversing its stance.
The European Commission is expected to keep its current ban on oil and gas drilling in the Arctic despite months-long campaigning from Norway to lift the moratorium, a spokesperson for the EC has told Euronews.
The Commission, the European Union’s legislative arm, is expected to announce a revamped Northern Neighbourhood strategy on October 20. But the new strategy is expected to keep the moratorium on drilling in Arctic waters, according to the spokesperson.
Norway, not an EU member but a close EU ally, is Western Europe’s top oil and gas producer and the single biggest gas supplier to Europe after Russia cut off most supply via pipelines following the invasion of Ukraine.
For months, Norway has been lobbying the bloc to drop its opposition to drilling in the Arctic. The Iran war and the biggest oil and gas supply disruption in history have added to Norway’s arguments that Europe needs reliable supply from places outside of conflict zones.
The EU moratorium on Arctic drilling was enacted in 2021 due to the bloc’s climate commitments and environmental concerns. The ban does not allow drilling in Norway’s northern parts of the Barents Sea, which is estimated to contain most of the remaining Norwegian oil and gas resources.
Even Fatih Birol, the executive director of the International Energy Agency (IEA), said this summer that the EU should reverse the moratorium on drilling in the Arctic as it is extremely important for European energy security.
Norway plans to continue exploring for oil and gas in its Arctic waters in the Barents Sea regardless of whether the EU supports or lifts the moratorium, Norwegian Energy Minister Terje Aasland told Reuters last month.
“If Norway is to remain a long-term supplier of oil and gas to Europe..., then the Arctic must be part of that discussion,” Aasland said.
However, per Euronews’ reporting, the EU is not willing to change its position on Arctic drilling.
“Moving forward, our approach on the moratorium will remain unchanged: our policies have objectives to address climate change and environmental degradation and support sustainable economic development,” the spokesperson for the Commission told Euronews.
By Tsvetana Paraskova for Oilprice.com
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The Commission, the European Union’s legislative arm, is expected to announce a revamped Northern Neighbourhood strategy on October 20. But the new strategy is expected to keep the moratorium on drilling in Arctic waters, according to the spokesperson.
Norway, not an EU member but a close EU ally, is Western Europe’s top oil and gas producer and the single biggest gas supplier to Europe after Russia cut off most supply via pipelines following the invasion of Ukraine.
For months, Norway has been lobbying the bloc to drop its opposition to drilling in the Arctic. The Iran war and the biggest oil and gas supply disruption in history have added to Norway’s arguments that Europe needs reliable supply from places outside of conflict zones.
The EU moratorium on Arctic drilling was enacted in 2021 due to the bloc’s climate commitments and environmental concerns. The ban does not allow drilling in Norway’s northern parts of the Barents Sea, which is estimated to contain most of the remaining Norwegian oil and gas resources.
Even Fatih Birol, the executive director of the International Energy Agency (IEA), said this summer that the EU should reverse the moratorium on drilling in the Arctic as it is extremely important for European energy security.
Norway plans to continue exploring for oil and gas in its Arctic waters in the Barents Sea regardless of whether the EU supports or lifts the moratorium, Norwegian Energy Minister Terje Aasland told Reuters last month.
“If Norway is to remain a long-term supplier of oil and gas to Europe..., then the Arctic must be part of that discussion,” Aasland said.
However, per Euronews’ reporting, the EU is not willing to change its position on Arctic drilling.
“Moving forward, our approach on the moratorium will remain unchanged: our policies have objectives to address climate change and environmental degradation and support sustainable economic development,” the spokesperson for the Commission told Euronews.
By Tsvetana Paraskova for Oilprice.com
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