Denmark’s announcement that it would stop offering exploration licenses came down on the European oil and gas sector like a bolt from the blue. Not that it would be a completely unexpected move – the offshore production of Danish gas has found itself bogged down in having to modernize without the required political backing for it – rather it is a move that puts a lot of pressure for other producing nations that might be confronted with popular pressure to follow Copenhagen’s path. The Danish climate and energy minister Dan Jorgensen has stated early December that Denmark would seek to end all oil and gas production completely by 2050, meaning that the total phaseout will roughly correspond to the winding down of Denmark’s flagship producing asset and largest gas field, Tyra. Denmark has historically been the overlooked member of the quarter of North Sea oil and gas producers, despite […]