World eyes Arctic oil reserves in anticipation
22 September 2010 Last updated at 15:17 BST
Climate change has focussed attention on the economic potential of the Arctic.
Parts of the region that have been frozen for centuries have become accessible as the ice melts.
Oil companies say there is now a chance to explore there, but that leaves the politicians with the challenge of balancing development with environmental risks.
The BBC's Duncan Bartlett spoke to Prof Julian Dowdeswell of the Scott Polar Institute and Manouchehr Takin of the Centre for Global Energy Studies.