A 2013 US EIA study estimated China held the world’s largest shale gas resources at over 1,160 Tcf. However, due to high exploration and production costs the sector has not met its growth expectations.

The search for oil and gas in the Arctic started more than 50 years ago, and several basins have proven productive. The most prolific province has certainly been the North Slope of Alaska, with Prudhoe Bay being the flagship oilfield of not only Alaska but also the entire U.S. and North America.