The Norwegian parliament has ordered the country’s government to begin a new oil and gas exploration licensing round, which will allow for an increase in drilling activities in Norway.
According to Reuters, the decision to implement the round was amplified as the country has become Europe’s largest natural gas supplier, contributing around 30% of gas imports.
The government initially pushed to commence a new licensing round in early 2025. However, the process was delayed at the request of the Centre Party.
In 2024, Norway reached its record volume of natural gas exports to Europe.
However, projections indicate a sharp decline in output post-2030, with identifying and developing new resources could assist in reducing the projection.