UPDATE 2-Norway plays down energy impact of Russia row

(Recasts with prime minister's comments)

By Wojciech Moskwa and Terje Solsvik

STAVANGER, Norway, Aug 26 (Reuters) - Oil and gas-rich Norway on Tuesday played down the impact of growing tension between the West and Russia on budding energy cooperation in Europe's far north.

The two countries share a border in the Arctic and have overlapping claims in a swathe of the Barents Sea which could be rich with oil or natural gas.

Norway's majority state-owned oil and gas producer StatoilHydro (STL.OL) also partners Russian Gazprom (GAZP.MM) in developing the giant Shtokman gas field in the Russian Barents.

Relations between the West and Russia fell to a post-Cold War low following this month's armed conflict in Georgia, with members of NATO blasting Moscow for moving its forces into Georgia.

"We regret the cooling in relations...but it is correct of NATO to be very clear to respect the sovereignty of Georgia," Prime Minister Jens Stoltenberg told a news conference. Norway is a NATO member.

Stoltenberg added that Norway has historically maintained "pragmatic" bilateral relations with Russia even during the worst of tension between Moscow and the West.

"I don't believe that the tensions connected with Georgia will affect our relations in the high-north in general and in Shtokman specifically," he said.