Norway is stepping up pressure on the European Union to lift a proposed moratorium on oil and gas exploration in the Arctic, citing geopolitical conditions created by Iran’s blockade of the Strait of Hormuz.
The European Commission is currently reviewing its Arctic strategy, which since 2021 has included a commitment to an international moratorium on hydrocarbon extraction in the region. Norwegian politicians and business leaders are leveraging the energy uncertainty to push for the ban to be withdrawn.
“Norway is exploiting the situation to exert pressure,” said Ann Karin Sæther, while Truls Gulowsen noted that “the wars in Ukraine and Iran make it easier to intimidate European citizens.”
Security concerns
Norway, which is not an EU member, already supplies about one-third of Europe’s natural gas. In January, the Norwegian government proposed opening 70 new exploration blocks, most of them in the Barents Sea. According to the Norwegian Directorate for Subsurface Management, 60% of the country’s untapped reserves are located there.
However, the exploitation of the region raises serious security concerns. Due to its proximity to Russia, there is a risk of sabotage to pipelines, which could affect not only Norway but the entire European energy network. “We would become a more attractive target,” warned Sæther.
Despite the pressure, the European Commission has stated that its position “has not changed.” The revised Arctic strategy is expected to be released in the second half of the year.