A Nordic coalition of financial institutions, trade unions and climate scientists issued a stark warning to the European Commission on Wednesday, calling on European Union leaders to maintain its existing ban on new Arctic oil and gas drilling as the bloc is revising its policy in the region.
In an open letter to five European Commissioners, the group urges Brussels not to soften its stance, fearing the bloc may be reassessing its opposition to Arctic drilling, citing previous media allegations “with concern”.
Since 2021, the EU has supported a global ban on new oil and gas drilling as part of its Arctic policy for environmental reasons. But the EU is currently revising its regional strategy in the Arctic, prompting critics of new fossil fuel drilling ventures to speak out.
The letter’s premise lies in both environmental concerns and potential security threats to Europe, given its proximity to Russian territory, where Moscow often boasts nuclear drills.
It argues that the changing geopolitical situation has heightened the security risks in the Barents Sea, with oil and gas infrastructure being potential targets for hybrid warfare due to the proximity to Russian territory and the Northern Sea Route.
“If oil and gas flowing from the Norwegian part of the Arctic becomes crucial for Europe’s energy security, it would make the infrastructure even more attractive as targets for sabotage and make the EU vulnerable to such attacks,” reads the letter backed by 127 signatories, mostly hailing from the Northern hemisphere.
The signatories, including former German Vice Chancellor and Federal Minister for Economic Affairs and Climate Protection Robert Habeck and former Danish Minister for Climate and Energy Connie Hedegaard, warn that an expansion of oil and gas drilling in the Arctic region would add pressure to “globally significant ecosystems, by increasing the risk of oil spills and leakages, which could cause irreversible environmental damage”.
The signatories argue that the Arctic region is warming up four times faster than the global average and warn that pushing fossil fuel development further north into the vulnerable southern Barents Sea poses an “unmanageable threat” to globally significant marine ecosystems.
Economic fallacy?
Proponents of Arctic drilling frequently frame it as a necessary shield against Europe’s energy volatility, but the Nordic coalition’s letter dismantles this timeline.
They argue that projects on the Norwegian continental shelf take about 13 years to develop, meaning any new Arctic fields approved today would not reach full production until around 2040.
Independent market assessments from Rystad Energy further erode the business case, the letter notes, estimating that economically extractable resources in the Barents Sea are actually 78% lower than official Norwegian government forecasts.
The letter also posits that any new commercial production of liquefied natural gas (LNG) would require the EU to sign 20-to-25-year gas purchase agreements, since existing capacity is fully utilised for decades. The move would lock Europe into fossil fuel dependency long after its 2050 net-zero climate deadline, the signatories warn.
Instead, the coalition encourages the Commission to double down on domestic electrification, grid efficiency and a rapid rollout of renewable energy.
“We believe that the most effective way to continue to strengthen the EU’s long-term energy security is to ramp up EU’s electrification and domestic renewable energy and efficiency measures, not to deepen dependence on imported fossil fuels,” reads the letter.
Norwegian energy company Equinor supports the EU’s updating its Arctic strategy and argued against stopping all oil and gas exploration in the North.
“We believe the EU should develop a policy that reflects the importance of the northern areas for energy security, preparedness and stability. Norwegian activity in the region takes place within strict, knowledge-based, and democratically anchored frameworks,” Equinor’s spokesperson told Euronews, noting their stance “against a general moratorium” in the region.
A Commission spokesperson said the EU executive is updating the EU Arctic strategy unveiled in 2021 to address the evolving situation in the region amid rising energy prices and inflation triggered by the US-led war against Iran, as well as repeated manifestations from the US to ‘acquire’ Greenland, an autonomous territory of the Kingdom of Denmark.
“Addressing climate change and environmental degradation and supporting sustainable economic development remain valid objectives,” the Commission spokesperson told Euronews.
However, the process is still “at an early stage” and no conclusions have been drawn at this point, the spokesperson added.
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