The economic importance of the Arctic

The Arctic is increasingly becoming an area of geo-political, geo-economic and geo-ecological interest. Climate change resulting from anthropogenic greenhouse gas emissions is causing rapid warming and melting of ice in the Arctic. This makes areas in the North Polar Region with raw materials potential increasingly accessible for economic exploitation and development. However, the economic opportunities come with high risks for the Arctic's ecosystems. 

The Arctic region is economically significant for Germany as well. German companies are important consumers of Norwegian and Russian oil and gas. They cooperate with companies in Norway and the Russian Federation on the development of gas deposits using German technological know-how.