European Union energy ministers are expected to discuss domestic natural gas drilling during an informal meeting in Cyprus on 13 May, against a backdrop of rising oil and gas prices and concerns over supply shortages, according to a document seen by Euronews.
Since the US-led conflict involving Iran, the EU has been grappling with an escalating energy crisis. Natural gas prices have remained elevated, standing at roughly double those in the United States and China, despite four years of market disruption following Russia’s withdrawal from the European market in 2022.
The document highlights the bloc’s success in cutting its reliance on Russian gas from 45% to 12% since the start of the war in Ukraine. However, it also warns that the EU has become increasingly exposed to volatility in the global liquefied natural gas (LNG) market, particularly following disruptions linked to the conflict involving Iran.
“Given the current price shocks and the volatility of the global LNG market, how do you see the role of indigenous gas resources as a collective mechanism for price stability across the Union?” the document asks energy ministers.
The question, set to be raised by the EU Council Presidency, comes as the bloc continues efforts to reduce dependence on imported fossil fuels. Higher energy prices have already added an estimated €24 billion to EU import costs.
Although the EU’s climate ambitions remain central to policymakers’ messaging — with the Climate Action Commissioner Wopke Hoekstra recently reaffirming support for ending oil and gas drilling — some analysts and industry representatives argue that renewable energy alone will not be sufficient to meet demand in the short term.
As governments move to secure energy supplies amid soaring prices, several member states appear increasingly open to expanding natural gas production. Romania, for instance, has been extracting gas from the Black Sea since March 2025.
EU countries consider new gas projects
Since April, Greece has launched its first offshore exploratory drilling campaign for natural gas in almost four decades, targeting potentially significant reserves in the Ionian Sea. Operations are expected to begin in early 2027.
Italy is also considering reviving offshore oil and gas exploration projects suspended in 2019.
The document specifically references Romania’s Neptun Deep project, Greece’s offshore exploration plans, Poland’s Baltic Sea developments, Italy’s Mediterranean ambitions and wider North Sea cooperation as examples of the bloc’s existing domestic gas potential.
Croatia recently announced a US-backed agreement to expand gas pipelines and energy infrastructure across the Balkans.
Industry estimates meanwhile suggest Cyprus holds the region’s largest untapped reserves, with geological assessments indicating around 324.1 billion cubic metres of gas — roughly equivalent to the EU’s average annual consumption.
The prospect of increased gas drilling has drawn criticism from environmental groups. In a letter sent ahead of the Cyprus meeting, Climate Action Network Europe urged ministers to adopt a binding annual target to reduce gas demand by 7%.
Industry representatives maintain that gas will continue to play a significant role in Europe’s energy mix, particularly in ensuring security of supply, system flexibility and industrial competitiveness during the green transition.
“Ensuring Europe’s strategic autonomy will require a diversified energy mix, including domestic natural gas production alongside the accelerated scale-up of both domestic and imported renewable and low-carbon gases such as biomethane and hydrogen,” Andreas Guth, secretary-general of Eurogas, told Euronews.
Guth added that adapting and repurposing existing infrastructure over time would be essential to protecting long-term investments while maintaining progress towards climate neutrality.
EU leaders have repeatedly urged households and businesses to reduce energy consumption, while insisting that Europe’s long-term energy independence depends on expanding domestic renewable power generation.
However, experts note that fully integrating wind and solar power will require extensive upgrades to electricity grids and large-scale energy storage infrastructure — a transition expected to take years and require trillions of euros in investment.
“In the short and medium term, we will still need quite a lot of gas, and that need has only increased with our decision to phase out Russian gas,” Energy Commissioner Dan Jørgensen told reporters in March.