Russia, Denmark, Canada Geologists Discussing Russian Arctic Bid

Geologists from Russia, Denmark and Canada hold regular consultations on the scientific basis of Russia’s bid to expand its Arctic continental shelf, Russian Natural Resources and Environment Minister Sergei Donskoy said.

MOSCOW (Sputnik) — Russia has been seeking the recognition of an expanded resource-rich outer limit of the continental shelf (OLCS) since 2001, but has been turned down due to lack of geological evidence that the territory is a natural continuation of Russia's shelf.

"Such consultations are conducted on a regular basis in a bilateral form and in the form of traditional conferences geological agencies of the Arctic states and within the framework of the Arctic Council," Donskoy told RIA Novosti on Tuesday.

The minister is expected to submit a revised application to the United Nations later in the day. According to Donskoy, it could take the special UN commission up to five years to consider Russia's revised bid.

Russia is one of the five Arctic nations – alongside the United States, Canada, Norway and Denmark – that have been laying claims to hydrocarbon deposits located in its offshore Arctic border areas.

According to the Ministry of Natural Resources, the total value of energy resources concentrated in Russia's Arctic region exceeds $30 trillion. Ministry experts predict that in the future, Russian oil and gas production will be mainly concentrated on the Arctic sea shelves.