Norway plans to continue oil and gas exploration in the Barents Sea despite the European Union’s preference for an Arctic drilling moratorium, Energy Minister Terje Aasland stated in an interview. Aasland also said Norway no longer views itself as the "green battery" of Europe, describing the concept of using Norwegian hydropower to balance the European grid as a flawed idea.
Norway is currently the largest supplier of natural gas to Europe, providing approximately 30% of the gas used by the EU and Britain following the 2022 invasion of Ukraine. While 2025 saw near-record gas production and the highest oil output since 2009, official forecasts indicate production will decline significantly after 2030 without new discoveries.
The European Union currently supports a ban on new Arctic drilling for environmental reasons, though it is reviewing the policy due to energy security concerns. International Energy Agency Executive Director Fatih Birol has encouraged the EU to reconsider its opposition, stating future supplies are necessary. Critics of the plan argue that Arctic projects would take too long to develop to help with current energy needs.
For Norwegian citizens and the energy industry, including companies like Equinor, Aker BP, and Var Energi, the decision supports the domestic economy and job security in northern regions bordering Russia. Aasland stated that development would proceed regardless of the EU's position because the oil can be sold globally and gas can be exported as liquefied natural gas (LNG). Conversely, the refusal to build new power interconnectors—cables that transport electricity between countries—means Norway will not increase its role in balancing price fluctuations for European electricity consumers, a response to rising domestic power prices linked to existing links with Germany and Britain.
The move establishes a precedent where a non-EU member state prioritizes its sovereign resource rights and domestic price stability over the EU's preferred environmental moratorium. The Barents Sea projects are intended to bridge the gap in production that is otherwise forecast to drop after 2030. The ONS energy conference beginning Monday in Stavanger will serve as a platform for further discussions on these regional energy strategies. Aasland has not set a specific deadline for new Barents Sea projects but emphasized that the Arctic must remain part of the long-term supply discussion.