With the Arctic ice melting, the prospects for substantial development of Arctic infrastructure and resources over the next decade are significant, presenting major opportunities for private sector developers, investors, and governments. Given the remote location, inhospitable climate, environmental sensitivity, and geopolitical positioning, however, major challenges exist that could limit the fulsome development of Arctic opportunities if left unaddressed.
A vast, largely unexplored resource play, the Arctic is estimated by the U.S. Geological Survey to contain 1,670 trillion cubic feet of natural gas and 90 billion barrels of oil. Many more resources, including fisheries and subsea mineral deposits, are also potentially at stake. Accessing, developing, and extracting these resources are projected to attract billions of dollars in investment in the region over the next decade. K&L Gates offers integrated business solutions for Arctic investment, incorporating a wide range of disciplines from finance to transactional due diligence to regulatory compliance to lobbying and advocacy and more.
With a global platform, including offices in the political and financial centers of major Arctic players such as the United States, Russia, and China, K&L Gates is strategically positioned to help its clients navigate the competing commercial and geopolitical interests involved in this emerging business frontier. The firm’s global experience in oil, gas, and other natural resources, maritime and fisheries issues, international trade, and environmental compliance matters means that K&L Gates is uniquely able to support clients moving into the new frontier.