Brussels to keep ban on Arctic oil and gas driling despite Norwegian pressure
Euronews has learned that the European Commission will maintain its ban on new oil and gas drilling in the Arctic, ahead of the 20 October announcement of its revamped Northern Neighbourhood strategy.
The European Commission is maintaining its ban on new oil and gas drilling in the Arctic, despite pressure from Norway to lift the restriction. The revised EU Arctic strategy, set to be revealed on October 20th, will continue to emphasize climate change objectives and sustainable economic development. The Commission's stance is based on the belief that new fossil fuel development is incompatible with its climate goals, and maintaining the moratorium strengthens Brussels' commitment to this position.
Norway, a significant energy supplier and ally to the EU, has urged the Commission to reconsider the ban. However, Denmark has had to balance its support for EU green ambitions with its limited ability to impose these on Greenland, which holds substantial mineral resources, including considerable undiscovered oil and gas reserves.
The ban is currently a non-binding political commitment, and the EU remains open to revising this position. Norwegian Energy Minister Terje Aasland maintains that Arctic exploration serves both Norwegian and European interests, particularly as the EU faces energy shortages and rising costs. Nonetheless, environmental groups assert that Norwegian Arctic gas contributes minimally to EU energy imports and is unlikely to significantly impact the EU's short-term energy security.
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