The executive director of the International Energy Agency (IEA), Fatih Birol, has urged the European Union to lift the current moratorium on drilling in the Arctic, which was enacted in 2021 due to climate commitments and environmental concerns.
Norway, which is not an EU member but is the largest gas supplier to Europe, has been lobbying the bloc to drop its opposition to Arctic drilling.
Birol stated that “the world needs every drop of oil from Norway” and emphasized the importance of reviewing energy strategies in Europe.
Norwegian Finance Minister Jens Stoltenberg noted that while environmental concerns must be considered, there should not be an absolute ban on oil and gas exploration in the Arctic.
