Norway has become Europe’s most important natural gas supplier following Russia’s 2022 invasion of Ukraine, covering approximately 30 percent of European Union and British demand. Natural gas production reached near-record levels while oil output hit the highest point since 2009. However, production forecasts indicate significant decline after 2030 without new resource discoveries, prompting Oslo to prioritize Arctic exploration expansion.
The Norwegian minister called for immediate coordinated action across government, oil companies, supplier industries, and the entire sector through parallel efforts to increase recovery from existing fields, develop additional fields, and enable new discoveries regardless of size. He stated Norway’s capacity to supply oil and gas over short and long terms remains important for Norway, Europe, and the world. Major operators including Equinor, Aker BP, and Vår Energi have formed partnerships for renewed exploration focus in Norway, reversing decades-long emphasis on redevelopment and enhanced recovery from producing areas.
The Brazil-Norway partnership follows Brazil’s own strategic energy diplomacy, with similar consultations held with Namibia on August 24 in Brasilia reviewing bilateral cooperation in defense, energy, trade, and investment. Norwegian officials confirmed plans to open new Barents Sea frontier exploration despite EU President Ursula von der Leyen’s message emphasizing reduced fossil fuel use, with Aasland noting Germany and Poland continue demanding Arctic natural gas supplies.
This article was curated and published as part of our South American energy market coverage.
