Norway Will Drill in Arctic Regardless of EU’s Position, Says Energy Minister
Energy Minister Terje Aasland said Norway will keep Barents Sea development to help sustain output as forecasts show production could fall after 2030.
- On Monday, Energy Minister Terje Aasland announced Norway will continue developing Barents Sea oil and gas resources, defying European Union support for an Arctic drilling moratorium.
- Following Russia's 2022 invasion of Ukraine, Norway became Europe's largest gas supplier, meeting around 30% of demand for the European Union and Britain.
- Equinor CEO Anders Opedal stated Arctic oil and gas can be shipped globally if rejected by the EU, warning, "The only thing that will suffer from this is actually European security."
- Aasland also declared the concept of Norway as Europe's "green battery" outdated, stating, "It was a flawed idea," as the country prioritizes existing power cooperation.
- Norway aims to maintain petroleum production and exports at current levels until at least 2035, with Barents Sea activity central to serving Norwegian and European interests.
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Ecuadornews: The head of the country's largest energy, Equinor, says that crude oil and gas will be sent to any other part of the world if the EU rejects them
Norge vil fortsette å boreetter olje i Barentshavet selv om EU vedtar et moratorium på oljeboring i Arctic, Minister of Energy Terje Aasland (Ap).
Norway will drill in Arctic regardless of EU's position, says energy minister
Norway will continue developing its oil and gas resources in the Barents Sea regardless of the European Union's support for a moratorium on Arctic hydrocarbon supplies, and no longer sees itself as Europe's "green battery", Energy Minister Terje Aasland told Reuters.
The minister says the Barents Sea in the Arctic is crucial for sustaining production. Equinor's CEO says it can export oil and LNG to any part of the world.
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