Energy reserves north of Arctic Circle mapped in detail for first time

Roughly one-third of the world’s gas reserves and 13 per cent of its oil reserves lie north of the Arctic Circle, estimate U.S. Geological Survey researchers who suggest most of the gas is in Russian territory.

Russia could benefit from increasing its existing gas reserves, currently the biggest in the world. But the oil estimate is small, compared with known reserves in major petroleum-exporting countries, and is unlikely to shift trade patterns greatly, the researchers say.

CBC