Developing Oil and Gas Resources in Arctic Waters: The Final Frontier?
This factsheet has been drafted as a basis for consultations with stakeholders within the EU Arctic Impact Assessment. The final report will be available in Spring 2014, and will constitute an outcome of developing the content of this factsheet partly in the light of input from stakeholders.
Exploitation of hydrocarbons in the Arctic region has many faces and the future of the developments is uncertain. Many parts of the Arctic Ocean are becoming more accessible due to improved technologies, as well as diminished sea-ice due to climate change. Investment in exploration and development are influenced by global markets, energy demand and policies concerned with economic development, energy security and climate change.
This factsheet (focusing on offshore resource exploitation) highlights:
- Existing resources and current developments
- Main drivers
- Environmental, social, economic and political impacts
- Governance of oil and gas exploitation
- Importance of Arctic resources for the European Union
- Relevant EU Policies.
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