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Norway plans to continue developing oil and gas resources in the Barents Sea despite European Union support for restrictions on new Arctic hydrocarbon projects, Energy Minister Terje Aasland said.
Since Russia invaded Ukraine in 2022, Norway has emerged as Europe’s largest natural gas supplier, covering about 30% of gas demand across the EU and Britain. Norwegian gas production remained near record levels last year, while oil output climbed to its highest since 2009.
However, official forecasts suggest Norway’s petroleum production could decline significantly after 2030 without new discoveries and developments. Aasland said expanding activity in the Barents Sea would therefore be important for maintaining Norway’s role as a reliable European energy supplier.
Norway aims to keep oil and gas production and exports near current levels until at least 2035. Aasland argued that Arctic resources must be considered if Europe wants Norway to remain a major long-term supplier.
The EU currently supports a moratorium on new Arctic drilling because of environmental concerns, although energy security pressures have prompted discussions about reconsidering that position.
Norway maintains that Barents Sea areas opened for petroleum development are ice-free, reducing some environmental risks associated with Arctic drilling. Oslo also argues that energy investment supports employment and communities in northern Norway.
Aasland stressed that Norway retains the sovereign right to develop its resources regardless of Brussels’ position. Barents Sea oil could be sold globally, while natural gas could reach international markets as liquefied natural gas through Equinor’s Melkoeya LNG facility near Hammerfest.
International Energy Agency Executive Director Fatih Birol has also encouraged Europe to reconsider its opposition to new Arctic energy developments, citing future energy security needs. Critics counter that Arctic projects require years to develop and would not solve immediate supply challenges.
Aasland also rejected Norway’s previous ambition to become Europe’s “green battery” through hydropower exports, calling the concept flawed. While Norway will maintain electricity cooperation with Europe, he said the country does not plan additional interconnectors and urged European nations to strengthen reliable domestic power generation.
