Chinese army think-tank says gas resources in Arctic region would help economy

And you think they are not looking at the Arctic? Competition is building.


(Oil and gas resources in Arctic are important resource to guarantee China's sustained economic growth and country should actively look at developing it.)

The Economic Times
By Reuters
18 June 2014

BEIJING: Oil and gas resources in the Arctic are an important resource to guarantee China's sustained economic growth and the country should actively look at developing it, state media on Wednesday cited a Chinese military think-tank as saying.

The Arctic Council agreed in May last year to admit emerging powers China and India as observers, reflecting growing global interest in the trade and energy potential of the planet's Far North.

The organisation, which coordinates Arctic policy, is gaining influence as sea ice thaws to open up trade routes and intensify competition for oil and gas - estimated at 15 per cent and 30 per cent respectively of undiscovered reserves.

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