Norway will continue to develop oil and gas resources in Barents Sea.

According to a report quoted by Miningweekly in Reuters, Norwegian Energy Minister Terje Aasland said that although the European Union supports the suspension of oil and gas exploration in the Arctic, Norway will continue to develop oil and gas resources in the Barents Sea and will no longer regard itself as the EU's "green battery".

After the outbreak of the Russian-Ukrainian conflict, Norway became the largest natural gas supplier in Europe, supporting 30% of the natural gas demand of the European Union and Britain.

Last year, the country's natural gas production reached an all-time high, while crude oil production reached a new high since 2009. Officials predict that if new oil and gas fields cannot be discovered and developed, the country's oil and gas production will drop sharply after 2030.

"In today's geopolitical and security environment, considering the resource situation, I think the continued activities in the Barents Sea are in the interests of Norway and Europe," Aslan said in front of Norway's biennial energy conference, Offshore Northern Sea (ONS), held in Stavanger on Monday.

At present, the EU supports banning new drilling in the Arctic due to environmental concerns, but it is also considering revising its policy for energy security.

Anders Opedal, CEO of Norwegian national oil company Equinor, said that if rejected by the EU, the Barents Sea oil and liquefied natural gas (LNG) can be exported to all parts of the world.

"In fact, the only influence is the security of Europe. We have flexibility, "O 'Pedal said on Monday.

Norway's goal is to maintain production levels.

Aslan said that Norway hopes to maintain the current level of oil production and export by 2035, so the production of Barents Sea is the key.

"If Norway maintains its long-term oil and gas supply to Europe ..., then the Arctic must be included in the negotiations," said the energy minister.

When negotiating with EU officials, Norway has always insisted that some oil exploration and development areas in the Barents Sea are as ice-free as the North Sea, so it is less prone to oil spills and other environmental impacts, and helps to maintain employment and settlement in the northern part of the country bordering Russia.

Aslan believes that Norway's views are being communicated to the EU, but adds that even if the EU continues to support the moratorium, the development of Barents Sea resources is a sovereign matter of the country.

"We will develop these areas, regardless of whether the EU will suspend the purchase of oil and gas," Aslan said.

In any case, he added, Arctic oil will be sold to the global market, while natural gas can be exported from Norwegian oil company's Melkoeya)LNG plant near Hammerfest to the world.

Fatih Birol, Director-General of the International Energy Agency (IEA), also urged the EU to reconsider its opposition to new oil and gas development in the Arctic, believing that future supply is very important for energy security.

Critics believe that the new Arctic project will take many years to put into production, and it will do little to solve Europe's recent energy difficulties.

Green battery "there is something wrong with the idea"

In addition to oil and gas, Norway has relied on rich reservoirs and water systems for many years to produce a large number of renewable energy and export it to Europe through cross-border cables.

Norway used to regard itself as Europe's "green battery", but the minister said that this idea is outdated because Norway alone cannot balance the European electricity market.

Aslan said, "There is something wrong with this idea."

This idea helps to promote the construction of new power interconnection, including the connection with Britain and Germany, but with the rise of electricity prices in Europe, this idea has caused some opposition in Norway.

The deep connection with the European power system makes Norway more vulnerable to European price fluctuations.

Aslan said that Norway will not build a new interconnected power grid, but it is still committed to strengthening cooperation with Europe in the power sector.

He urged European countries to stabilize power supply, which was insufficient because of the closure of coal-fired power plants and nuclear power plants and the lack of investment in new gas-fired power generation.

This will lower the electricity price, and different countries will benefit from the electricity trade.

Aslan said, "The future lies in having a very powerful and complete system".

source:https://geoglobal.mnr.gov.cn/zx/kydt/kyaqyhb/202608/t20260827_10300642.htm