Europe reopens oil and gas drilling amid energy security concerns

European countries are reversing years of climate-driven restrictions on oil and gas exploration as governments seek to reduce reliance on costly energy imports.

Greece, Italy, and Britain are leading the shift, driven by the energy price shock of 2022 and concerns over dependence on foreign supplies, including U.S. liquefied natural gas. Greece issued its first offshore exploration license in over 40 years, while Italy and Britain are considering expanding offshore production. Norway plans to drill 250 exploration wells over the next decade to sustain output.

The move could reduce Europe’s dependence on imports and lower energy costs, but it raises tensions with U.S. energy pledges. Although the revival of fossil fuel exploration may seem at odds with the EU’s goal to achieve carbon neutrality by 2050, officials emphasize that renewables will continue to play a central role. The developments highlight the complex balance between energy security, economic costs, and climate commitments in the region.