The arctic's role in global energy supply and energy security

Abstract

In recent years the world has become gripped with concerns about climate change and its impact on Arctic ice as well as the perception that increasing global energy consumption might surpass the capacity of energy markets. These seemingly unrelated issues come to a nexus in the Arctic region since melting ice coverage has led some analysts to believe that previously inaccessible oil and gas deposits may now be accessible permanently or periodically. Successful development of these reserves would help to alleviate the pressure on the global oil and gas markets and potentially enhance energy security as a result. However, activities and rhetoric of players who have expressed their interests in the Arctic region in¬dicate contrary. Obviously, the Arctic region has beco¬me a mirror of great powers geopolitical interests. China, Russia and USA using different methods star¬ting from political and economic to military are playing the game in the North Pole aiming to gain the biggest possible part of «Arctic pie». Ex-Foreign Affairs Minister of Canada Peter McKay was famously quoted for his statement that he gave after Russia planted its flag under the water on the shelf: «This isn't the XV-th century you can't go around the world and just plant flags and say «We're claiming this territory». Actually the processes and (no) cooperation between involved countries reminds an international relations’ tradi¬tions from XV-th century. Strong military, economic and political superpowers are acting on their own national interests forgetting about the essence of the region.