Prospects and directions of China's participation in the development and utilization of oil and gas resources in the Arctic

Abstract

The rich oil and gas resources in the Arctic have attracted worldwide attention in recent years. According to the academically accepted assessment by the United States Geological Survey, the Arctic oil and gas resources are unevenly distributed, mainly concentrated in Russia, Alaska (the USA), Norway, Canada and Greenland. The exploration and development of oil and gas resources show different characteristics in different countries and regions, which may change under new circumstances. China is a big consumer and importer of oil and gas resources, and the Russian Arctic Region is becoming one of the China's important oil and gas suppliers. This paper presents the current development and utilization status of Arctic oil and gas resources in major Arctic Nations and the future development prospects. Based on China's current participation in oil and gas development and utilization in the Arctic, this paper concludes by suggesting that China should take Russia as a long-term partner in the Arctic oil and gas resources development and the two sides should carry out cooperation in various fields, including project investment, technology investment and channel construction.

Keywords

• arctic
• oil and gas
• exploration and development
• development and utilization
• cooperation