Oil & Gas

The European Union plans to maintain its moratorium on oil and gas exploration in the Arctic, despite calls from Norway and industry representatives to reconsider the restrictions.

Norway has opposed the continued moratorium, arguing that its oil and gas supplies are important to Europe’s energy security, particularly following the reduction of Russian energy imports.

The LDAC supports maintaining the ban, highlighting the Arctic’s ecological importance and warning that further exploration could increase environmental pressures and pose risks to fisheries and marine ecosystems.