Replacing Russia as the EU's largest natural gas supplier, Norway's "energy finance" makes the EU love and hate
[Global Times Comprehensive Report] Norway, which is located in northern Europe, is not a member of the European Union.
Since the discovery of oil and gas resources in the North Sea in the 1960s, Norway's oil and gas industry has made great strides, making it a major energy producer and exporter in Europe.
Today, in the context of the Russian-Ukrainian conflict, Norway's energy exports have soared, and the EU has a love-hate relationship with Norway.
According to the US "Washington Post" report on the 8th, after the outbreak of the Russian-Ukrainian conflict, Norway has replaced Russia as the EU's largest natural gas supplier.
In the same week that the Nord Stream pipeline was damaged, Norway even opened a new pipeline to supply gas to Poland.
The Norwegian government budget released earlier this month shows that this year, Norway's oil and gas business revenue is expected to reach 113 billion US dollars, a nearly five-fold surge from last year, and Norway's oil and gas revenue will continue to grow next year, reaching about 131 billion US dollars.
The EU's attitude towards Norwegian energy has always been mixed.
Some time ago, under the influence of mainstream public opinion to deal with the crisis of climate change, EU countries were quite critical of Norway's development of the oil and gas industry.
But Norwegians disagree. Many Norwegians say that Norway vigorously develops alternative energy sources such as wind and solar energy, and that oil and gas are exported to other countries.
Ironically, now in the context of the Russian-Ukrainian conflict, the EU is more concerned about its own energy supply security and has a greater demand for fossil fuels in Norway.
Even so, there are still many critics within the EU that Norway is making money from war.
On the 6th of this month, French President Macron called Norway and the United States at a public event, which quite reflected the current mood of the European Union.
Macron said: "In the spirit of a great friendship, we would like to say to our Norwegian and American friends: 'You are amazing, you provide us with energy and gas, but we cannot continue to pay four times the price. Now.' That's not what friendship is all about."
Recently, the EU and Norway reached an agreement to cooperate to promote energy market stability and "reduce excessive energy prices in a meaningful way".
However, the Norwegian side has not responded to the setting of energy price caps, which the EU is most concerned about.
Exactly how Norway will work with the EU to regulate energy prices remains unclear.
However, in recent months, some Norwegian lawmakers have called for the excess profits that the country's oil industry is expected to make this year to be injected into the so-called "solidarity fund" for foreign cooperation and aid.
(Zhen Xiang)