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Tuesday, 27 July 2021 00:00

Greenland has banned oil exploration in the vast Arctic territory

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The Greenland government has announced a ban on oil exploration in the vast Arctic territory. The decision was made in the interests of fishing and to focus the economy on the real potential of the autonomous territory.

"This is a logical step, since the government takes the climate crisis seriously. This decision was also made in the interests of our nature, in the interests of our fisheries and to focus our economy on real potential," said Greenland's Minister of Natural Resources Naai Nathanielsen.

It is reported that the main offshore exploration campaign conducted by the Scottish company Cairn Energy in 2010-2011 did not lead to discoveries, and two oil strategies that previous governments have presented since 2014 failed to attract companies.

In April 2021, parliamentary elections were held in Greenland, in which the opposition left-wing party Inuit Atakatigiit received the majority of mandates. In accordance with the pre-election promise, the Government is currently consulting on a bill banning uranium exploration and production in Greenland. The island of Greenland, 80% of which is covered with ice, has significant natural resources – oil, gas, gold, diamonds, uranium, zinc and lead, but the development of natural resources is fraught with significant difficulties, including due to poorly developed infrastructure and numerous bureaucratic obstacles.

Source: https://ru.arctic.ru/resources/20210716/996475.html

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