Norway is urging the European Union to remove its call for a moratorium on oil and gas extraction in the Arctic from the updated Arctic strategy, which is expected to be finalized by summer. This push comes amid rising oil prices and supply constraints exacerbated by ongoing conflicts in the Middle East.
Norwegian Prime Minister Jonas Gahr Støre emphasized the need for Europe to have stable energy partners during a speech at the Offshore Norge conference in Oslo on March 13. He stated,
“In unpredictable times, Norway must be reliable.”
Since Russia’s full-scale invasion of Ukraine, Norway has emerged as Europe’s largest supplier of pipeline gas. According to Anders Opedal, CEO of the Norwegian energy company Equinor, nearly all of Norway’s gas production is directed to Europe, with 90-95% of its oil also supplied to the European market.
The EU is currently reviewing its Arctic strategy, with public consultations concluding on March 16. The existing policy mandates the EU to advocate for an international moratorium on oil and gas extraction in the Arctic.
Norwegian officials, industry groups, and labor unions are actively lobbying Brussels to abandon this proposal. Energy Minister Terje Aasland noted that Norway has been supplying oil and gas from the Arctic to the European market for decades, asserting,
“And we will continue to do so.”
Opedal highlighted that the Johan Castberg oil field in the Barents Sea, which began production last year, sent its first shipment to Europe as a substitute for Russian oil. He warned that any moratorium would effectively undermine Europe’s energy security.
Ine Eriksen Søreide, leader of Norway’s Conservative Party, criticized the European Commission’s stance, arguing that calls to halt Arctic extraction contradict the EU’s energy security priorities. Similarly, Sylvi Listhaug, leader of the right-wing Progress Party, stated that Europe should encourage Norway to increase its oil and gas production to reduce reliance on authoritarian regimes.
Norway currently accounts for about one-third of the EU’s gas imports, although the share of Arctic gas is significantly lower, at approximately 3% of the bloc’s total imports. Minister Aasland also mentioned that Norway is operating at near-capacity and cannot rapidly scale up production. To increase output, new exploration and investment are necessary, as the government seeks to mitigate an anticipated decline in production post-2030.
Norway is advocating for the EU to drop its proposed moratorium on Arctic oil and gas extraction, emphasizing the importance of stable energy supplies amid rising prices and geopolitical tensions. As Europe's largest gas supplier, Norway's energy strategy is crucial for the continent's energy security.