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IEA Urges EU to Speed Up Electrification and Lift Arctic Drilling Ban Amid Rising Energy Costs

International Energy Agency executive director Fatih Birol urged the European Union in Brussels to accelerate electrification efforts and reconsider its moratorium on new Arctic oil and gas exploration. He highlighted Norway’s role as a key gas supplier and warned that rising prices from the Iran war and the EU’s planned exit from Russian gas by 2027 could strain energy security.

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