Friday July 27, 2007

Russia mulls potentially oil-rich Arctic seabed

cnsnews.com :

A Russian research vessel has begun a 90-day voyage to the Arctic as Moscow continues to pursue claims to the potentially energy-rich seabed under the Arctic Ocean. A similar mission returned to Russia on June 24, having reportedly discovered a link between a major underwater ridge and Russia's coastal shelf. As a result, Russia's Arctic and Antarctic Research Institute announced that Russia could lay claim to more than one million square kilometres of territory under the Arctic Ocean. Experts believe the area could contain up to 10 billion tons of hydrocarbons, as well as diamonds and metal ore.

Under international law, notably the U.N. Convention on the Law of the Sea, a country can claim exclusive economic rights within 200 miles of its territory. If a country can prove that its continental shelf extends beyond that zone, it can claim similar rights over a larger area. Russia first presented its claim to seabed under the Arctic Ocean, as well as under the Bering and Okhotsk Seas, to the United Nations in 2001. However, four other polar countries, the United States, Denmark, Canada and Norway, objected to the Russian claims.

See also :

1. Canada flexes its muscles in scramble for the Arctic
2. Arctic sea ice melting at faster rate than projected
3. Arctic dreams
4. Scramble to unlock Arctic's energy potential
5. Arctic meltdown = oil, shipping & fish

(2007-07-27 12:34:14 SGT) [Env] Permalink

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