Norway plans to reopen gas fields to shore up sway in Europe

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Norway is reopening three gas fields, closed in the 90s, to meet increased demand in Europe. It has also offered 70 new drilling permits. Norway became the continent’s biggest gas supplier after Russia’s invasion of Ukraine and has sought to maximise its fossil fuel exports. Its major political parties are all in favour of more drilling, even as the country adopts clean tech at home. Its approach contrasts with that of the UK, where Labour has banned new oil and gas licences in its push towards net zero. Norway’s decision will no doubt fuel calls from the Tories and Reform for more drilling in British parts of the North Sea. This would bring in more revenue for the government, but would not bring down energy bills as prices are set internationally.