  As a result of the climate change the situation in Arctic area leads to
several important consequences. On the one hand, oil and gas resources can be
exploited much easier than before. Thus, one can already observe discussions on
disputed shelf zones where the deposits are located. On the other hand, oil and
gas excavation leads to serious potential threats to fishing by changing
natural habitats which in turn can create serious damage to the economies of
some countries in the region. Another set of problems arises due to the
extension of navigable season for Arctic Shipping Routes.
