April 20, 2012
In a report produced by Lloyd’s in co-operation with Chatham House, Arctic opening: opportunity and risk in the High North, Arctic is expected to attract huge amount of investment over the coming decade. The report estimates the investment to exceed $100 billion.
The exact amount of investment might depend a variety of factors like oil and gas pricing, local and global economic conditions, and so on.
Main players of the Arctic will continue to be the oil and gas industry, and mining and the shipping industries. These biggest drivers and beneﬁciaries of the economic development of Arctic will be supported by other smaller industries like ﬁsheries, tourism, aquaculture, and scientiﬁc research.
Business in Arctic can be high risk or high potential based on the climatic condition and economic conditions. When Arctic is concerned the estimate of $100 billion can be, at best, a guess.