The EU Needs a New Arctic Strategy
The EU is the world's largest energy importer and one of the largest energy consumers. Its continued dependence on foreign energy, coupled with recent tensions with its biggest supplier – Russia, over the Ukraine conflict has meant that the EU's energy security has become more fragile of late. But the underlying reality of the EU's current energy challenges lies partly with its failure to take more decisive action to harness the benefits of the Arctic region. The Arctic after all is home to 22 per cent of the world's natural oil and gas and higher temperatures have created safer conditions for energy exploration. In order for the EU to address its core energy vulnerabilities, it must engage with the Arctic more robustly as a means of significantly diversifying its energy sources and security.