The coming oil rush in the Arctic carries considerable risks.

The coming rush in the Arctic carries considerable risks, warns Hans-Peter Zibenhaar, writing in the «Handelsblatt» newspaper.

The global demand for oil and gas grows. And Russia plays the central role. The empire of Vladimir Putin is not only the world's largest oil and gas producer, but also the world's largest energy exporter. The huge deposits of Siberia are far from being exhausted.

New technologies, such as fracking, contribute to the reduction in the U.S. energy prices and thus lay the foundation for the deployable re-industrialization of the country. However, because of the energy shortage the oil companies - from BP and Exxon Mobil to Total and Gazprom - are already thinking about tomorrow. Increasingly the Arctic comes in their view. The cold region is adding a tenth of the total gas and oil production. This is not surprising, because the extraction in other places can be carried on more favourable terms. But the geopolitical risks are rising