LNG

A review of the EU’s Arctic policy running through March 16, 2026, places fresh emphasis on gas from Norway’s Barents Sea which could lower Europe’s reliance on LNG imports. The resource base is substantial: The parts of the Barents Sea already open to exploration, according to Norwegian Offshore Directorate estimates, hold around 3.5 billion barrels of oil equivalent (boe) of natural gas, or about 22 trillion cubic feet.