Norway to press ahead with Arctic drilling in the Barents Sea amid EU energy review

Norway says it will continue developing oil and gas resources in the Barents Sea despite European Union policy pressure to halt new drilling in the Arctic. Energy Minister Terje Aasland said the work will go ahead, arguing that continued activity in the region serves both Norwegian and European interests. The comments came ahead of ONS, Norway's biannual energy conference, which began on Monday.

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Aasland said the EU is reviewing its support for a ban on new Arctic drilling because of energy-security concerns. He said the current geopolitical and security environment, together with the resource situation, supports continued development in the Barents Sea. Norway has also argued to EU officials that the parts of the sea opened to oil and gas activity are ice-free and therefore less exposed to oil spills and other environmental damage.

The issue matters because Europe has become heavily dependent on Norway for gas since Russia's invasion of Ukraine in 2022. Norway now supplies around 30% of gas demand in the EU and the UK, making its production decisions significant for European energy security. Anders Opedal, chief executive of Equinor, said oil and liquefied natural gas from the Barents Sea can be shipped elsewhere if the EU does not buy it, adding that the main impact would be on European security.

The debate also reflects wider pressure on European energy policy as governments balance climate goals against supply concerns. The EU has supported a ban on new drilling in the Arctic on environmental grounds, but the review suggests that security concerns are now influencing that position. Norway's stance indicates it intends to keep Arctic development central to its long-term energy strategy even as European policy shifts.

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The Barents Sea has long been part of Norway's Arctic energy ambitions, and the current discussion shows how those plans are being tested by changing market and geopolitical conditions. The conference in Stavanger has also drawn attention from industry leaders looking at future exploration opportunities in Norway. Patrick Pouyanné, chief executive of Total, said the company wants to examine new projects in Norway and sees the country as a natural energy supplier for Europe.

What remains unclear is how far the EU's review will go and whether it will lead to any change in policy on Arctic drilling. It is also not clear whether Norway's continued development plans will affect future buying decisions by European countries. The next point to watch is whether the EU's security concerns translate into a softer stance on Arctic fossil fuel projects or whether environmental objections continue to dominate.

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