Norway to postpone oil and gas licensing round -media reports

Norway's latest oil and gas licensing round will not proceed during this parliamentary period, which ends in 2025, Norwegian media reported on Tuesday, citing anonymous sources.

The decision to postpone the so-called 26th licensing round was part of Norway's minority government's budget deal with the opposition Socialist Left Party (SV), reported public broadcaster NRK and news agency NTB, citing anonymous sources. The government, led by Labour Party Prime Minister Jonas Gahr Stoere, is reliant on SV, which wants to stop Norway exploring for new petroleum resources to fight climate change, to pass next year's budget.

Norway is the European Union's biggest supplier of natural gas.

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