A tale of two regulatory landscapes: the UK and Norway
The stark contrasts between the UK and Norway demonstrate how policy stability can shape the long-term trajectory of a mature basin
The UK and Norway share the geology of the North Sea, but their oil and gas regulatory climates could scarcely be more different: where Norway provides consistency and long-term certainty, the UK has veered through cycles of policy instability from government to government. Mixed signals UK authorities have sent very mixed signals about the future of North Sea oil and gas over recent years. Just a decade ago, the government was strongly promoting investment, for example through tax allowances that spurred the development of several 100m bl projects. Then in 2019, the North Sea Transition Authority (NSTA) regulator temporarily paused licensing to assess whether its policies were in line with
Also in this section
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
13 February 2026
Artificial intelligence is pushing electricity demand beyond the limits of existing grids, increasing the role of gas and LNG in energy system planning as a fast, flexible solution
13 February 2026
Panellists at LNG2026 say demand growth will hinge less on the level of global supply and more on the pace of downstream buildout, policy clarity and bankable market frameworks
13 February 2026
The Middle Eastern gas giant and Asian energy heavyweight ink a 20-year landmark LNG agreement at LNG2026 in a significant step towards strengthening global energy partnership
