Profiting from the melting Arctic ice by extracting oil and gas from one of its most biodiverse seas: this is the fossil fuel development plan the Norwegian government has in mind for the Barents Sea, a 540,000-square-mile expanse of glacial waters shared by Norway and Russia. The Scandinavian country known for its green consumption – thanks to hydroelectric power, heat pumps and a boom in electric cars – has built its wealth on the export of hydrocarbons and is keen to push as far as the extreme north in order to exploit every available deposit. The question now is whether it will do so with Europe’s help and funding.

Norway is unhappy with the rejection of Arctic exploitation

Last year, the European Union purchased nearly a third of its gas and 14% of its crude oil from Norway. Oslo has become a reliable energy supplier since member states are no longer able to import Russian hydrocarbons, and is now seeking partners and potential customers to help it remain amongst the world’s leading oil and gas producers.

According to government estimates, oil production and exports will remain stable at least until 2035, while gas levels will fall significantly as early as 2030. “In today’s geopolitical and security environment, and given the resource situation, I believe continued activity in the Barents Sea serves both Norwegian and European interests,” Energy Minister Terje Aasland told the press, accusing the European Commission of hypocrisy for restricting drilling in the Arctic, even as countries increasingly turn to Norway to secure energy supplies.

Demand is indeed high, particularly for gas: the Polish company Orlen and the German company Uniper recently signed long-term contracts. However, the majority of imported gas comes mainly from the south (in the Norwegian Sea), not from the Arctic. In 2025, the Hammerfest liquefied natural gas plant, which overlooks the Barents Sea, produced just 4.11 billion cubic metres of gas, accounting for 1.42% of the EU’s total imports.

For now, Brussels has not yielded to Norwegian pressure: the commitment made in 2021 to keep Arctic oil and gas underground still stands. But since energy security has overtaken climate change in the list of political priorities, the upcoming review of the EU’s Arctic policy could lead to a rethink. According to an official interviewed by Euronews, it is highly likely that the Commission’s position will remain unchanged, but given the non-binding nature of the strategy, the decision will rest solely with individual countries.

Doubts that the exploitation of the Arctic would bring energy security

However, any renewal of the moratorium would not hinder Oslo’s plans: Norway is not a member of the EU, and the oil would be sold on global markets, while the gas could be exported as liquefied natural gas (LNG) from Equinor’s plant at Melkøya, in the north of the country. The Executive Director of the International Energy Agency, Fatih Birol, has also urged Brussels to reconsider its rejection of new exploration projects in the region, citing concerns over security of supply.

Not everyone, however, agrees that exploiting the Arctic will ensure peace of mind. Over the past two decades, Norway has invested tens of billions of euros in exploration projects, with rather disappointing results. The harsh weather conditions in the Barents Sea and the lack of infrastructure make the discovery of profitable fields less likely. Waves can reach ten metres in height; in winter, it is completely dark for 24 hours a day; and sub-zero temperatures can damage recovery equipment in the event of spills.

“Even if there were any finds, any new Arctic oil and gas would not help Europe’s energy crisis this side of 2040, and would in fact expose the EU to security risks,” explains Dina Rui, senior advisor at the Nordic Center for Sustainable Finance, based in Oslo, to Renewable Matter. “The average lead time on the Norwegian continental shelf is 13 years, and in the Barents Sea it is even longer at 20 years.”

The environmental risks of drilling in the Barents Sea

To date, the Wisting field is the only new project currently under consideration in the Barents Sea. If approved, it will become the world’s northernmost oil field. Simulations carried out by the energy giant Equinor suggest that, during the winter, over 90% of any oil spilt would be impossible to recover.

Wisting is located just 50 kilometres south of the Marginal Ice Zone (MIZ), the transition region separating the compact polar ice pack from the open ocean. Scientists consider it one of the most vulnerable ecosystems in the Arctic. It is a crucial feeding ground for species such as minke whales, fin whales, humpback whales, white-beaked dolphins and Greenland seals.

The camp is also situated approximately 185 kilometres southeast of Bear Island (Bjørnøya), a nature reserve that is home to one of the world’s largest seabird colonies. The area between the ice edge and Bjørnøya represents a critical habitat for numerous species of seabirds. Particularly vulnerable is the Brünnich’s guillemot, a seabird that every summer accompanies the chicks eastwards from Bjørnøya, passing right through the Wisting area. During this swimming migration, neither the moulting adults nor the chicks are able to fly. According to environmental organisations, even a relatively small oil spill could therefore have serious consequences for the species.

Norway is green only at home

Ironically, Norway consumes a relatively small proportion of the fossil fuels it produces. It boasts the highest take-up rate of electric vehicles in the world, and around 90% of its electricity is generated by hydroelectric power stations. “Our emissions from oil and gas are ten times that of our domestic emissions. In other words, we are far away from meeting our targets,” explains Dina Rui. “This rings true for both the sitting Labour-led government and previous governments, who all have failed to deliver credible plans for cutting emissions that align with the goals set by the Paris Agreement.”

Furthermore, fossil fuel companies in Norway have for decades benefited from a rather favourable tax regime, which allows for a 78% deduction on exploration costs. These subsidies will, for example, enable Equinor, Eker and Vaar Energi to drill around five high-impact wells a year. According to initial estimates, this will cost around 750 million dollars a year. It hardly matters that it will be Norwegian taxpayers and, indirectly, those most vulnerable to the climate crisis who foot the bill.

Cover: Winter Landscape of the Norwegian Sea Near Tromso, North of Norway, photo by Envato