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diplomatic agenda |DI PLO M AT I CA

Canada and the U.S. Provided that environmental and climate concerns are adequately handled, we believe it is feasible to slowly start exploring how to harvest significant energy resources in the Arctic. In fact, a major conference on how to prevent oil spills in the Arctic took place under the Arctic Council’s auspices in Oslo in October and was attended by Canadian officials. We don’t expect a major rush or conflicts over energy resources in the region, as ownership and governance are already well-established through the United Nations Law of the Sea Convention. There are a number of examples of new energy opportunities in the far north. They include the Shtokman project (led by Russia’s Gazprom, with Norwegian and French interests on a large offshore gas field in the Barents Sea), the new deal between Rosneft of Russia and Exxon of the U.S. in the Kara Ocean, last year’s delimitation agreement between Norway and Russia in the Barents Sea, and Chinese investment in an LNG plant in the same area.  

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Energy production moves North

The High North is a main focal point for the Norwegian government. The aim is to safeguard a sustainable development there, and this implies expanding economic activities to develop employment, growth and welfare. The energy sector is an important part of this. Norway has had fantastic exploration results this year. In the mature, fully developed North Sea, the Aldeous/Avaldsnes oil discovery might prove to be among the all-time top five oil fields ever discovered in Norway. Then there are the Skrugard oil discovery and the Norvarg gas find, both in the Barents Sea. There is also an ongoing effort to open up the area around Jan Mayen and new areas in the southern Barents Sea for oil and gas exploration.  Norway struggled for many years to solve the secrets of oil and gas in this body of water. The first discovery came in 1980, but it took more than 25 years to get it into production. Today, the future looks much brighter. We have LNG production. We have an oil discovery under development in the High North as well as the Skrugard site. Thirty years after opening this area for exploration, the northern energy focus has made a big push forward. The recent visit of Norway’s energy minister to Canada underlines the partnership between Canada and Norway for sustainable management of our respective northern energy resources. D diplomat and international canada

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Diplomat Winter 2012  

Diplomat & International Canada magazine is a leading source for international affairs and Canadian foreign policy. Diplomat is the magazine...

Diplomat Winter 2012  

Diplomat & International Canada magazine is a leading source for international affairs and Canadian foreign policy. Diplomat is the magazine...

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