ENERGY RESOURCES OF THE ARCTIC REGION: CURRENT STATUS AND PROBLEMS

Abstract

Author(s): Gadir BAYRAMLI, Kaan KAPAN

As the peak point of energy resources located in the Middle East, Alaska, North Sea and Russia has been left behind, significance of the Arctic region increased. Harsh climactic conditions, complex geological structure and geographical distance have caused the Arctic region to be considered as “reserve energy area”. However, with the declination of the reserves of the existing energy resources, the interest in the arctic has increased, leading to geopolitical struggle for it. Furthermore, the Arctic is a region that may make significant contributions in term of biological resources, mineral deposits and world food safety. Hars climate and complex geopolitical structure of the Arctic require use of special and suitable innovative technologies appropriate to the regional conditions. Hence, it is expected that the multinational companies having high experience, advanced technology and sufficient financial resources are expected to play an active role in this respect. It is obvious that operation of the resources of a region with such special conditions as those of the Arctic may only be possible by means of an effective cooperation among the regional countries and settlement of the existing problems.

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