Bibliographic description:Pavlenko, V.I., Panichkin, I.V. Economic Assessment of Status and Prospects of the Development of the Arctic Sea Oil and Gas Resources. Arctic: ecology and economy, 2012, no. 3(7), pp. 14-21. DOI: . (In Russian).
As for the preliminary assessments, the Arctic Ocean may contain up to one-third of the world undiscovered oil and gas resources. Yet, development of these resources is associated with severe climate conditions, lack of appropriate technologies, significant investments and public concerns about protection of the Arctic environment. This article analyses the current status and prospects of those resources development by the Arctic states.
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