Denmark will no longer grant new licences for oil and gas drilling in the Danish part of the North Sea, and by 2050 production will have to stop altogether. The step is part of Denmark’s plans to drastically reduce greenhouse gas emissions and become climate neutral.

The Danish government reached an agreement on this by a majority in Parliament. A round for licensing was cancelled. Minister Dan Jørgensen of climate and Energy says that his country will put a definitive end to fossil energy production. The decision is estimated to cost around EUR 1.7 billion.

Denmark has, since 1972, and is involved in the production of oil and gas in the North sea and is the largest oil producing country in the European Union. Denmark expects a daily oil production of 83,000 barrels and the equivalent of 21,000 barrels of natural gas for this year. Moreover, the United Kingdom and Norway are much larger oil and gas producers, but they are not members of the EU.

Greenpeace environmental group says it welcomes the news and speaks of a great victory for the climate movement.

As a major oil producing country in the european union and one of the richest countries in the world, Denmark has a moral duty to make in the search for oil, to stop, to send a clear signal that the world can and should do to make the climate accrods of Paris real, and the divert climate crisis to people.