Denmark ends oil and gas exploration
The Danish government’s plan is to completely stop the extraction of fossil fuels by 2050.
As part of this project, the country announced the end of oil and gas exploration in the North Sea, an area located between the coasts of Denmark and Norway and part of the Atlantic Ocean.
The government of Copenhagen also opted to cancel this Thursday its call for licenses for companies seeking to exploit hydrocarbons.
“We are now putting a definitive end to the era of fossil fuels,” said Denmark’s climate minister, Dan Jorgensen, during the announcement.
The non-governmental organization Greenpeace called the decision a “historic moment”.
Denmark is currently the largest oil producer in the European Union, although it produces much less than Norway or the United Kingdom.
However, it should also be noted that the latest opening of exploration licenses by Copenhagen was amidst uncertainty as Total (a French company) withdrew in October leaving only one other applicant.
Denmark produced 103,000 barrels per day in 2019, according to an analysis by the British oil consortium BP.
There are 55 drilling platforms in its territory in 20 oil and gas fields.
“We are the largest oil producer in the European Union and therefore this decision will resonate around the world,” said the Danish climate minister.
It is estimated that the measure may cost Denmark around US$1,000 million, according to the Ministry of Energy.
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