Rapid economic development expected to drive Arctic agenda

Potential shipping lanes that could speed up development in the Arctic
Potential shipping lanes that could speed up development in the Arctic

The Arctic is an area of vast undeveloped wilderness. But that could be about to change as the eight nations which have territory in the region assess how they can overcome development challenges to tap into its massive resources and potential wealth. But no one nation is likely to go it alone. The size of the task means they will need to make partnership deals.

<i>The Arctic has massive quantities of hydrocarbons and minerals, but it is also inhospitable territory. Its potential has so far eluded the countries which have a legitimate stake in its wealth. But economic development looks like being a reality in the not too distant future. It will almost certainly take precedence...

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