Arctic offshore hydrocarbons and the european Union: More constraints and less opportunities

While interest in Arctic offshore hydrocarbon exploitation has increased in recent years, actual developments have been slow to follow, with major differences across the Arctic region. Meeting the growing demand of EU citizens for energy in a safe and environmentally responsible manner is a key challenge. The EU has limited, but multifaceted, functional competences that enable it to play a role in promoting high standards for resource development including through support for developing technologies specific for Arctic application, efforts to address climate change and relations with Arctic partners. Funding and investment frameworks can facilitate high standards for regulators and industry to ensure that Arctic hydrocarbon developments are environmentally and socially responsible. It is recommended that the eu increase its support for research on the Arctic environment and relevant technology advances. Despite numerous challenges, the EU should continue and strengthen energy dialogues with non-EU Arctic partners within existing forums.