# Arctic Energy — Oil, Gas and the Climate Paradox

**URL:** https://thecodex.expert/energy/arctic/
**Session:** 29 | **Date:** 2026-05-05

## Summary

Arctic contains ~13% undiscovered oil and ~30% undiscovered gas (USGS). Operational: Yamal LNG (73.50N 67.50E, 16.5 MTPA, Novatek, Arc7 carriers), Arctic LNG 2 (73.76N 67.80E, 19.8 MTPA, sanctioned post-2022), Prirazlomnaya (69.23N 57.34E, Gazprom Neft, ~80,000 bbl/day), Prudhoe Bay Alaska (70.25N 148.35W, ConocoPhillips, ~500,000 bbl/day, Trans-Alaska Pipeline to Valdez 61.13N 146.36W), Johan Castberg Barents (72.20N 21.00E, Equinor, 220,000 bbl/day target 2025), Snøhvit LNG Norway (70.42N 18.74E, 4.2 MTPA). Permafrost: ~25% NH land area, ~1.5 Tt C stored, thaw releases CH4 (~80x CO2/20yr). Norilsk 2020 diesel spill (69.34N 88.21E, 21,000t, permafrost foundation failure). Northern Sea Route: 4,900 km, ice-free longer. Willow Project approved 2023 (70.36N 152.50W). IEA NZE: no new fields approved beyond 2021. Sources: USGS 2008, AMAP 2023, Equinor, Novatek AR 2023.