Greenland ends the search for oil and gas on the island. The government is no longer issuing permits for exploratory drilling to the large unused oil fields under Greenland. “The price of oil extraction is too high”, writes the Ministry of Mineral Resources.
In doing so, the ministry refers to the economic price, but above all also to the price for the environment. “This step has been taken in the interest of our nature, our fisheries, our tourism sector and to focus on sustainable opportunities”
“The Greenland government takes climate change seriously,” said Kalistat Lund, minister of agriculture, energy and environment. “We see the consequences every day in our country, and we are ready to contribute to global solutions to combat climate change.” The government now wants to attract investment for hydropower.
Shell
Greenland has large pristine oil and gas fields. According to US estimates, it would be 17.5 billion undiscovered barrels of oil and 148 trillion cubic meters of gas.
Exploratory drilling has been underway for 50 years to exploit these large reserves. Shell was also involved in drilling in Greenland in the past. It never came to large-scale pumping of oil.
Greenland is also in the process of banning uranium exploration and mining. Environmental considerations also play a role here.
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