The Arctic has in recent weeks become a focal point of geopolitical tensions between Russia and the United States. Given the present rate of global warming, scientists anticipate that the region will be ice-free by the summer of 2030. It is believed to contain a large portion of the world’s undiscovered oil and gas reserves. It is also an important maritime route, one that is increasingly accessible due to the thawing of its ice cover.
The Arctic is one of the most resource-rich regions of the world. According to a study commissioned by the US government, some 30 percent of unexplored natural gas reserves and 13 percent of undiscovered oil and gas condensate are located there. Only Russia has a greater supply of raw materials.