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countries from completing a notable gas contract with the Soviet Union in
1982, the US introduced a ban on all American exports to firms supporting
the project. The US also boycotted European firms supplying equipment.
The Americans claimed that if Western Europe became too dependent on
Soviet gas, one might come under pressure in a future political crisis if the
Soviets turned off the taps to stop the energy supply. The USA urged
Norway to increase its gas exports as a substitute for Soviet gas. Norway,
on the other hand, maintained that gas production could not be increased
as quickly as desired. This was due to the long time lags between the
adoption of a field development decision and when actual production could
begin. The Norwegians also wanted, in case development should be
accelerated, a “price premium” to justify an action that otherwise would
have been different. From that time on, Norway was an active part of
European energy geopolitics.
Norway’s co-operation and contact with the EU cover most of the
EU’s spheres of activity. The Norwegian Prime Minister and many of the
other ministers meet twice a year with their res...
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- Summer '14
- European Union, ........., Peak oil, The European Gas and Oil Market