The Norwegian government on Wednesday approved billions of oil and gas projects to maintain production. The war in Ukraine has made Norway the main supplier of natural gas to Europe as supplies of Russian gas have declined sharply.
The Energy Ministry has now given the green light to more than 200 billion kroner (converted to 17 billion euros) for nineteen projects, mainly by Norwegian oil and gas companies Aker BP and Equinor. This concerns, for example, the development of new oil and gas fields and the expansion of existing fields in the North Sea and the Norwegian Sea. For example, 55 new wells are planned at the offshore Yggdrasil field. Yggdrasil is said to contain the equivalent of about 650 million barrels of oil and gas, making it one of the largest projects off the Norwegian coast in recent years.
UK and the Netherlands
Norway transports oil and gas via pipelines to, among others, the United Kingdom and the Netherlands. In a statement, the Norwegian Energy Minister said that with this new production the country can keep deliveries to customers high. They also provide jobs, says Oslo.
Climate groups reacted with indignation at the decision. According to Greenpeace, this will further exacerbate the climate crisis. The Norwegian branch of the World Wildlife Fund speaks of a “sad day” for the climate.
Source: BNR
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