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EU Keeps Arctic Oil and Gas Drilling Ban Despite Norway

The European Union will keep opposing new oil and gas drilling in the Arctic, despite pressure from Norway to drop the ban. A European Commission spokesperson told Reuters on September 21 that the bloc remains committed to its 2021 Arctic policy. That policy supports a ban on further Arctic oil and gas development and says the EU will not buy such hydrocarbons. Norway, Europe’s biggest gas supplier, has been pushing Brussels to change course in an upcoming revision of the policy. With ageing fields, Norwegian production could decline in the 2030s without new discoveries. Norway’s energy minister Terje Aasland said the country will keep developing its Barents Sea resources regardless of EU support, citing energy security concerns. A new WWF-Norway report found Arctic gas projects take an average of 18.7 years from discovery to production, meaning new finds would not reach markets until the 2040s. The report says Arctic gas is too small to matter for Europe’s energy security. The revised EU Arctic strategy is due on October 20.

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