Climate Goals Implementation: Denmark Ends Oil Production by 2050

Denmark is currently the main oil producer in the EU. But the country has set ambitious climate targets. Therefore, Parliament decided to phase out oil and gas production in the North Sea by 2050.

Denmark will cease all oil and gas production in the North Sea by 2050. The Copenhagen parliament approved those government plans that night. “Now we are finally ending the era of fossil fuels,” said Climate and Energy Minister Dan Jörgensen.

The planned eighth licensing round and all future funding bids will be canceled. According to plans, 2050 will be the last year Denmark will produce fossil fuels in the North Sea.

Largest oil producer in the EU

After the departure of the UK, Denmark is the largest oil producer in the European Union and also plays an important role as an exporter of natural gas. In Europe as a whole, however, Norway, which is not a member of the EU, is by far the largest producing country.

With a gross domestic product of 49,720 euros per inhabitant, Denmark is one of the richest countries in Europe: the value is almost 80 percent above the EU average. Denmark achieved a significant part of this prosperity in recent decades by extracting oil in the North Sea and exporting it.

Ambitious climate goal

At the same time, the country follows a clear course in the energy transition. It set one of the world’s most ambitious climate targets last year and aims to reduce greenhouse gas emissions by 70 percent by 2030 compared to 1990 levels and be climate neutral by 2050.

Due to the expansion of wind power, which is of particular importance to Denmark due to the long stretch of coastline, the country is already one of the leaders in the EU in terms of the share of renewables in total energy consumption.