Current Legal Regime Governing the Arctic Region and Investment by Oil and Gas Companies
Article from: OGEL 1 (2011), in Polar Energy Law (Arctic, Antarctic)
The Arctic region remains the current focus for future energy security with its vast hydrocarbon resources. As the demand for energy increases, energy companies’ interests are now on the Arctic. This paper discusses the current legal regime governing the Arctic with a view to ascertaining whether it provides an adequate basis for investment by oil and gas companies. A cursory description of the Arctic is given and its hydrocarbon resources highlighted. The jostling for jurisdiction by the Arctic states is noted and the region’s legal framework discussed. It is contended that ...