VI. Offshore energy and mineral resource prospects

The Arctic continental shelf constitutes some of the world’s largest remaining potential areas for oil and gas. Increasing energy demand has been an incentive for innovation and new technology. How will this development continue for a safer arctic petroleum industry? How may arctic petroleum resources be extracted in a sustainable manner not undermining the Paris agreement? What potentials lies for stakeholders operating in infrastructure and capital markets as arctic offshore potentials are being developed?

Development of renewable energy sources calls for substantially increasing access to rare-earth minerals and conventional metals. However, there is not enough knowledge on the commercial prospects for marine mineral mining in the Arctic and in some areas a lack of a regulatory framework. Challenges and possibilities related to subsea mining need to be investigated. Do we have the methodologies and underwater technology to extract minerals from the seabed?

Line Kjelstrup Photo: Lars Olav Sparboe

Line Kjelstrup
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