Abstract
The energy sector, which is crucial for the Arctic economies and communities, has entered into a major transformation phase reflecting world market trends. The ongoing low-carbon transition is largely spurred by the global warming, international climate policies (notably the 2015 Paris Agreement), a rapid progress of renewable energy, and information technologies. The chapter provides a general analysis of Arctic energy trends and country-specific profiles, addressing each nation’s policy papers, current activities, and development plans. All Arctic countries focus strongly on climate goals and developing renewable energy sources, but the industry landscape and policy approaches differ strongly.
Oil and gas, regarded earlier among the most promising Arctic industries, have suffered from the growing environmentally motivated pressure, often discouraging exploration results, and the rapid expansion of renewable generation, which is expected to reverse the growth of the global oil demand between 2028 and 2040. Only Norway and Russia remain politically committed to Arctic petroleum, and only Russia has approved development plans beyond 2024. Renewable energy (primarily solar and wind generation and hydrogen technologies) enjoys a high priority, which is reflected in the adoption of national strategies, large-scale research, and numerous pilot projects. On the whole, this development is still in the initial phase, creating both new opportunities and challenges for all Arctic nations.
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Kolomeytseva, A.A., Krivorotov, A.K. (2022). Arctic Energy Sector Under Low-Carbon Transition. In: Pak, E.V., Krivtsov, A.I., Zagrebelnaya, N.S. (eds) The Handbook of the Arctic. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-16-9250-5_13-1
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DOI: https://doi.org/10.1007/978-981-16-9250-5_13-1
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