FEED

Share

  • RSS
  • Print

Natural Resources

The Arctic contains a wealth of petroleum and mineral resources. Currently, the region produces about one tenth of the world’s oil and a quarter of its natural gas. The Russian Arctic is the source for about 80 percent of this oil and virtually all of the natural gas; Arctic Canada, Alaska, and Norway are the other leading producers. Recent appraisals suggest that a considerable fraction of the world’s undiscovered petroleum reserves lie within the Arctic.

The most developed sector of the region, the Russian Arctic also holds abundant deposits of nickel, copper, coal, gold, uranium, tungsten, and diamonds. As well, the North American Arctic contains pockets of uranium, copper, nickel, iron, natural gas, and oil. However, many known mineral reserves have not been exploited because of their inaccessibility and the steep development costs.

Related Photos

See All
  • An Antonov An-72 aircraft on the Franz Josef Land archipelago.
    Franz Josef Land archipelago
  • Members of the FSB border guard service and the Emergencies Ministry during joint rescue exercises following an airplane crash. The exercises were held under severe arctic conditions on the Franz Josef Land archipelago.
    Joint FSB border guard and Emergencies Ministry exercises
  • Arthur Chilingarov (second left), Vice-President of the Russian Geographical Society, the Russian president's special envoy for international cooperation in the Arctic and Antarctic, and Yury Trutnev (second right), Minister of Natural Resources and Ecology, attending the plenary meeting of the Second International Forum "The Arctic: Territory of Dialogue".
    Second International Arctic Forum
  • The Arktika was the first icebreaker to go through the ice to the North Pole.
    Arktika nuclear icebreaker in the Arctic Ocean
  • Ice floes in the Arctic Ocean near the Franz Josef Land archipelago.
    Franz Josef Land archipelago
  • Researchers work at the Barneo station
  • During the two rounds of helicopter flights over an area of about 200 by 100 km a total of 12 ice floes in Ice Field No. 1 were surveyed
    Icebreaker Rossiya in the Chukchi Sea
  • A Greenland seal.
    Greenland seal
  • Delsyumyaku Kosterkin, one of the last surviving Nganasan shamans in Dudinka in the Taimyr Autonomous Area.
    Nganasan shaman Delsyumyaku Kosterkin
  • Deer sled.
    Deer
  • The crew of the Arctic expedition sponsored by the Komsomolskaya Pravda newspaper setting up a tent during the march from the North Pole-26 drifting ice station to the North Pole-27 station along the Arctic ice.
    Komsomolskaya expedition sets up tent
  • ... but none could meet the basic requirements, especially for thickness.
    Icebreaker Rossiya in the Chukchi Sea

Biological resources are similarly bountiful in the Far North. An estimated one-fifth of freshwater and several of the world’s largest rivers are found there. The region encompasses one of the last and most extensive, continuous wilderness areas on Earth, and it is home to hundreds of endemic species of plants and animals. Millions of migratory birds from around the globe breed and live seasonally in the Arctic and a variety of marine mammals inhabit the regional ocean waters. Fish such as salmon, cod, and pollock abound in Arctic and sub-Arctic waters, supporting valuable commercial fisheries. Some two dozen major herds of reindeer and caribou, important resources for indigenous peoples, migrate across high northern landscapes. In sum, humans gain much from the Arctic’s living resources, and the region is uniquely important to global biodiversity.

Climate change in the Far North is expected to transform the outlook on natural resources there.  As rising temperatures accelerate the melting of ice on land and at sea, the prospects for expanding transportation corridors, mineral resource development, and tourism will grow. At the same time living resources will face new pressures. Future developments could well bring considerable new wealth to Arctic state economies, but also significant consequences for northern peoples and environments.