Related Articles
Forward article link
Share PDF with colleagues

The Arctic land grab underway as the region opens up

A region rich in oil and gas has many suitors, each with rival claims to the icy north

The Arctic ice cap is melting, and as it does, potentially vast riches below are being uncovered. Shipping lanes once too icy to navigate are opening and could reshape global trade. Newly accessible waters are drawing hardy trawlers and their fishermen. Cruise ships now take well-heeled tourists into the once isolated frontier. But it is the Arctic's oil and gas potential that has spurred the Arctic littoral states to press their claims to the region. The Arctic may hold around a quarter of the world's untapped oil and gas deposits: 80 billion barrels of recoverable oil and 1,670 trillion cubic feet of gas, according to a 2008 US Geological Survey study. Most of those oil- and gasfields are

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
UAE tries to ride two horses
19 October 2021
Abu Dhabi’s plans to raise oil and gas production are advancing despite the federation’s carbon-cutting pledges
Western Canada’s gas revival
19 October 2021
Midstream pipeline expansion and cautious operator spending is fuelling an uptick in prices
Oil companies missed transition pivot
19 October 2021
Shell and activist investor both agree that mistakes were made in the ’00s
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video