Arctic frictions create business for icebreaker industry

Reviving the North Sea Route requires a lot of financial investment and specific technological innovations. Despite “friction points,” several countries including the United States, Canada and Russia have been carrying out intensive task in the Arctic region for years to explore and develop in the long term natural resources deposits, mostly oil, gas and minerals.

The Arctic holds an estimated 13% (90 billion barrels) of the world’s undiscovered conventional oil resources and 30% of its undiscovered conventional natural gas resources, according to an assessment conducted in 2008 by the US Geological Survey (USGS). Also, further developments in the region are likely to threaten the Arctic vulnerable ecosystem that has an impact on the world environment’s health.

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