wp.arcticportal.org

Tag: interest

  • Huge interest in east-Greenland oil

    Huge interest in east-Greenland oil

    Arctic Oil Pipeline

    Companies are queuing up to get a part of a potential oil boom in the waters off East Greenland.

    There is great interest in extracting oil off the coast as interest in the first preliminary round of tendering for the area shows.

    The Energy Ministry in Nuuk received 11 applications for exploration and exploitation of oil and gas in the Greenland Sea, according to Greenland self-government, Naalakkersuisut, in a press release. The deadline was December 15th.

    The number of applicants shows that there is competition for several license blocks that were offered. Forthcoming is an extensive evaluation and negotiation process before the best applications are selected.

    “The result of the licensing round is an important milestone in achieving a long-term and sustainable economy for Greenland,” says Ove Karl Bertelsen, a member of Naalakkersuisut.

    The area in the Greenland Sea covers 50,000 square kilometers. A total of 19 blocks were offered, ranging in size from 1752 to 3306 square kilometers.

    The offering process is divided into two rounds. The first is the so-called Kanumas-Group consisting of Statoil-Hydro, BP, ExxonMobil, Chevron, Japan Oil, Gas and Minerals National Corporation – and the state oil company Nunaoil.

    The second round is an open round where all companies are allowed to apply. The same terms and conditions apply for the two blocks.

    Source

    Jyllands Posten

  • Clinton to assure US interest in the Arctic

    Clinton to assure US interest in the Arctic

    Hillary Clinton

    Secretary of State Hillary Clinton will assert U.S. interest in the Arctic this weekend. She is visiting Tromsö in Norway where she will empathize US´s interests in the Arctic.

    According to Reuters, a senior Oslo-based diplomat said of Clinton: “Her aim is to emphasize that the U.S. is keeping its eye on the Arctic and remains very keen. Big firms are investing big money and she wants to say ‘I can do more than one thing at a time, the world is not just Pakistan, Afghanistan and Iraq’.”

    Recently Clinton said that as the Arctic warmed: “It is more important that we put our navigational rights on a treaty footing and have a larger voice in the interpretation and development of the rules. You will see China, India, Brazil, you-name-it — all vying for navigational rights and routes through the Arctic.”

    Although the United States now recognizes the UNCLOS, which defines the rights and responsibilities of nations in their use of the world’s oceans, as a codification of customary international law, it has not ratified it.

    Clinton has previously said she wants the US to do so, but it remains in doubt as of yet.

    The outcomes of the trip to Tromsö will not be of significant political interest, but Clinton will meet “different key persons on Arctic research.”

    Sources

    Reuters

    ABS

    Nordlys