The Arctic Ocean is vast both geographically—covering more than 14 million square kilometers, an area comparable to onshore Russia—and in its hydrocarbon resource potential. In 2008, the U.S. Geological Survey's National Oil and Gas Assessment team estimated that the Arctic may contain upwards of 10% of the world's undiscovered oil and 30% of the world's undiscovered gas. Across the Pole, Russian energy giant Gazprom is counting on offshore Arctic locations to provide up to a quarter of its natural gas production by 2020. As a result, territorial disputes are under way throughout the Arctic Ocean, mostly driven by conflicts over oil and gas rights.
展开▼
