Norway just told the European Union, in the politest Nordic way possible, to mind its own business. Energy Minister Terje Aasland declared that Norway will push ahead with oil and gas drilling in the Arctic’s Barents Sea regardless of what the EU thinks about it.
The timing is deliberate. Aasland made the announcement on August 24, ahead of the ONS energy conference in Stavanger, Norway’s annual gathering of the global energy industry. His message was simple: the Barents Sea is Norwegian territory, and Norway will develop it on its own terms.
A sovereign bet on Arctic energy
Aasland’s statement was as blunt as energy diplomacy gets. He said Norway would develop these areas, and then it would be up to the EU whether they want to impose a moratorium on buying the resulting gas or oil.
Norway’s petroleum strategy hinges on keeping production levels stable through at least 2035. The Barents Sea is central to that plan. Without new discoveries and development in the region, production forecasts show a decline kicking in after 2030.
