EU energy ministers will discuss boosting domestic oil and gas production as part of a broader effort to strengthen energy security at an informal meeting on 13 May in Lefkosia, Cyprus, according to a document seen by Argus.
The meeting has been organised by the Cyprus presidency of the EU and is part of broader efforts to reduce the bloc's exposure to external supply shocks.
"The development of indigenous gas resources can strategically complement the EU's long-term security and decarbonisation goals by contributing to diversification and resilience goals," the document says.
The discussion will focus on the role of domestic production in mitigating price volatility and on how EU gas infrastructure can remain investment-viable while aligned with long-term climate commitments.
The document highlights that projects by several EU member states accelerated offshore exploration and domestic gas production projects, including Romania's Neptun Deep and new initiatives in Greece, Bulgaria and Poland. Northern and central European countries have reinforced gas infrastructure, while Italy combined partnerships with exporters in north Africa with domestic upgrades. Denmark and Germany have co-operated on North Sea projects with a view to future carbon capture and hydrogen, the document said.
Oil and gas producers association IOGP has welcomed the initiatives and has called on the EU to "take a more balanced approach to energy policy" and facilitate dialogue regarding the exploitation of the bloc's resources by "providing data, identifying barriers at EU and national level, and presenting member states with options on how to accelerate the responsible use of these resources".
Up to 150 exploration wells could be drilled in 2026-27, including in Germany, Poland, Austria, Romania and Greece, but regulatory and permitting barriers continue to constrain increased domestic gas production in the EU, IOGP said. Around 12 EU member states still have bans or restrictions on exploration and production, and projects can take 3-10 years from discovery to output, according to IOGP.
The challenge is to define a regulatory and investment environment that encourages the extraction of domestic resources to lower prices and secure supply, while avoiding a lock-in to carbon-intensive systems that could undermine long-term climate goals, the document said.
