Norway plans further development of Arctic drilling amid EU energy concerns

By Al Jazeera Staff and Reuters. Published On 24 Aug 202624 Aug 2026.

Key points

• Development of reserves in the Barents Sea is to persist, Energy Minister Terje Aasland informed Reuters news agency on Monday.
• Europe has become dependent on Norway as its largest supplier of natural gas since Russia's invasion of Ukraine in 2022.
• French oil firm Total will appoint a new exploration manager to examine new projects ⁠in Norway, CEO Patrick Pouyanne informed Norwegian television.
• With the United States war against Iran additionally tightening energy markets, such consumers are starting to rethink policy.
• The only thing that will suffer from this is European security.

Norway will continue developing its Arctic oil and gas resources despite European Union (EU) policy seeking to halt new fossil fuel projects in the region, according to a senior administration official.

Development of reserves in the Barents Sea is to persist, Energy Minister Terje Aasland informed Reuters news agency on Monday. While the EU at present supports a ban on new drilling in the Arctic on environmental grounds, it is reviewing the policy due to energy security worries.

"In today's geopolitical and security environment, and given the resource situation, I ⁠believe continued activity in the Barents Sea serves both Norwegian and European interests, " Aasland remarked ahead of ONS, Norway's biannual energy conference. It began on Monday.

Europe has become dependent on Norway as its largest supplier of natural gas since Russia's invasion of Ukraine in 2022. The Scandinavian nation meets around 30 percent of gas demand in the EU and UK.

Norway has ⁠argued to EU authorities that the parts of the Barents Sea opened to oil and gas activity are ice-free, and therefore less prone ⁠to oil spills and other environmental impact.

"We would develop these areas, and then it will be up to the EU whether they should have a moratorium on buying that gas ⁠or oil, " Aasland remarked.

Anders Opedal, CEO of Equinor, Norway's biggest oil firm, remarked oil and liquefied natural gas (LNG) from the Barents Sea can be shipped anywhere in the world if rejected by the EU.

"The only thing that will suffer from this is European security. We have the flexibility, " Opedal informed Reuters on the sidelines of the ONS conference.

Oslo's approach is mirrored by the industry. French oil firm Total will appoint a new exploration manager to examine new projects ⁠in Norway, CEO Patrick Pouyanne informed Norwegian television.

As EU countries seek resources and new maritime routes closer to home in light of global trade disruptions due to the US-Israel war on Iran, describing Norway as the natural energy supplier for Europe, he remarked Total hopes to expand its ‌market share.

For now, norway plans further development of Arctic drilling amid EU energy concerns remains the part of the story worth watching, and further updates are likely as more details are confirmed.