ИСТИНА

Climate change in the Arctic open a whole new ocean for human activity and knowledge, with the region’s vast energy, mineral and marine resources fueling technological innovations . Among these economic activities, the potential for vast reserves of offshore oil and gas constitutes arguably the most attractive, yet challenging prospect in the region. By the mid to late 2000s, interest in offshore hydrocarbons had surged owing to receding sea ice making more of the region accessible, rising global energy demand, and a more politically stable investment climate relative to other global regions with large hydrocarbon resources. These factors have spurred the Arctic coastal states to support offshore oil and gas development, and the region is experiencing other growing commercial interest and activity. Russia has the greatest potential for Arctic offshore oil and gas with 52 percent of all assessed oil, natural gas, and natural gas liquids in the region. And Norway as Europe’s largest oil producer has a longer history of offshore drilling activities than most of its Arctic counterparts. The 2010 agreement between Norway and Russia on an Arctic border in the Barents Sea has unlocked significant opportunities for resource development by both countries. Moscow is seeking partners for Rosneft and Gazprom to develop offshore oil and gas, and there has been considerable interest. In the wake of a settlement of Norway’s disputed maritime boundary with Russia, Rosneft signed a $2.5 billion agreement in May 2012 with Norway’s Statoil to explore a field in the Barents Sea. Having resolved a long-standing border dispute, Russia and Norway have also worked to harmonize health, safety, and environmental standards for industrial activities in the Barents Sea through the Barents 2020 project. Norway signed a historic energy agreement with the United Kingdom in October 2011 committing to use the best available technologies to manage energy sector-related emissions and to enhance environmental protection. Russia also has attempted to alleviate environmental concerns through a series of environmental protection agreements with its Arctic joint venture partners. The agreements outline measures to protect the Arctic ecosystem during oil and gas exploration, and to minimize the impact of oil and gas activities on indigenous communities.