Norway’s energy minister said on Tuesday that the impact of military attacks on Iran by the United States and Israel and the launch of Iranian drones and missiles against its neighbors on energy flows could restart discussions in the European Union over a ban on imports of Russian natural gas.
European gas prices rose 75% this week to a multi-year high, as hostilities in and around Iran impact gas exports from the Gulf.
Qatar, a major liquefied natural gas (LNG) exporter, suspended production on Monday. “The EU has clearly stated that it wants to be free from Russian oil and gas, and the events of the last three or four days have also been difficult,” Norwegian Energy Minister Terje Asland told a conference in Oslo.
“I believe that the geopolitical situation we are currently seeing will revive the debate again,” Aslund said.
Last month, European Union countries gave final approval to ban gas imports from Russia, its former biggest supplier, by the end of 2027, nearly four years after Russia invaded Ukraine.
Norway is Europe’s largest gas producer, meeting about 30% of demand. It also supplies about 20% of the continent’s oil.
A senior official in Iran’s Revolutionary Guards Corps said on Monday that Iran would open fire on any ships attempting to pass through the Strait of Hormuz at the southern tip of the Gulf.
Qatari tankers, which produce about 20% of the world’s LNG supplies, use this route.
(Reporting by Nora Buli; Editing by Terje Solsvik and Jason Neely)
