Current State and Reclaiming Prospects of Arctic Shelf Energy Resources

This paper presents an overview of the current status and prospects of developing the Arctic shelf’s resources from the standpoint of five Arctic states: Russia, Denmark, Norway, Canada and the USA. It is devoted to the analysis of the states’ strategies regarding their resources evolvement, methods of implementing and future opportunities. The role of energetics is significant as it seems to be a key to the future progress in many fields. However, at present, large oil and gas deposits remain undiscovered therefore their development is essential. This paper may be used by those interested in international business, energetics and also for informing themselves about the strained relations between the countries of the Arctic shelf. Key words: Arctic region, continental shelf, oil and gas deposits, hydrocarbon, climate change, resources development, international cooperation