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☆ Got a spare $324 million? Buy a slice of this strategic Arctic archipelago
  + stars: | 2024-05-14 | by ( Jack Guy | ) edition.cnn.com   time to read: +3 min
CNN —The last piece of privately-owned land in the Arctic archipelago Svalbard is up for sale for a cool 300 million euros ($324 million). The Arctic is of increasing geopolitical importance as climate change melts sea ice. The land is governed by the Svalbard Treaty. Knight FrankAn eventual buyer will in fact acquire Aktieselskabet Kulspids, a privately owned Norwegian limited company which owns the land. The purchaser will have to come from one of the 46 nations that have ratified the Svalbard Treaty, which established Norwegian sovereignty over the archipelago.
Persons: Knight Frank, Knight Frank “, Wedel, Kyllingstad, ”, Jonathan Webb, Zeiler Floyd Zadkovich, Webb Organizations: CNN, “ Locations: Svalbard, Norway, Longyearbyen, Norwegian, Oslo, Svalbard Treaty, China
☆ In case affecting oil, Norway Supreme Court says EU ships cannot fish Arctic snow crab
  + stars: | 2023-03-20 | by ( Gwladys Fouche | Thomson Reuters | Oversees News Coverage Norway For Reuters | ) www.reuters.com   time to read: +2 min
Summary Ruling has implications for oil, mineralsNon-EU Norway has sovereignty over Svalbard Arctic islandsState can sue Norway -expertOSLO, March 20 (Reuters) - Norway's Supreme Court ruled on Monday that EU ships cannot fish for snow crab off the Svalbard archipelago in the Arctic in a case also deciding who has the right to explore for oil and minerals in the region. At stake was whether EU vessels had the right to catch snow crab, whose meat is considered a delicacy by gourmets in Japan and South Korea, in the same way as Norwegian vessels did. But what is valid for the snow crab, a sedentary species living on the seabed, is also valid for oil, minerals and other resources, the Supreme Court ruled in a 2019 case. "The company does not have the right to catch snow crab on the continental shelf outside Svalbard," the Supreme Court said in its verdict, which was unanimous. "It is a domestic court decision, (so) an international court can also hear this question at a later stage."
☆ Norway's Supreme Court hears Arctic snow crab case affecting oil, minerals
  + stars: | 2023-01-24 | by ( Gwladys Fouche | Thomson Reuters | Oversees News Coverage Norway For Reuters | ) www.reuters.com   time to read: +2 min
At stake is whether EU vessels have the right to catch snow crab, whose meat is considered a delicacy by gourmets in Japan and South Korea, in the same way than Norwegian vessels do. "If the Supreme Court thinks the Svalbard treaty applies, it is not only about snow crab, it will be about oil, gas, minerals and fish," he told Reuters. In a sign of the importance the case has for Norway, 16 Supreme Court judges were present on Tuesday to hear arguments during the four-day session. "The key question here is the Svalbard Treaty and the surrounding areas," Hallvard Oestgaard, representing the Latvian fishing firm, told the court in his opening statement. In 2019 the Supreme Court ruled unanimously that EU fishermen must ask permission from Oslo to catch snow crab, after the same Latvian fisheries company had tried to fish off Svalbard with only an EU licence.
☆ Anyone can live and work in Svalbard, a group of Arctic islands, visa-free — as long as they don't run out of money and abide by a unique set of rules
  + stars: | 2022-12-31 | by ( Hannah Towey | ) www.businessinsider.com   time to read: +7 min
Insider spoke with four locals (one of whom was deported) about what it's like to work in Svalbard. Svalbard, a Norwegian archipelago 500 miles from the North Pole, is home to the world's northernmost human settlement. He moved to the island from the US in 2008 with around $1 million dollars in the bank and ambitions to launch an English-language newspaper, Sabbatini told Insider. Courtesy of Martin FialaThanks to the local housing crisis, it's easier to find work on Svalbard than a place to live. The price to pay is that it's exhausting and chaotic, but that's pretty awesome," Fiala told Insider.
☆ What it's like to work in Svalbard, a group of Arctic islands where anyone can live visa-free — as long as you don't run out of money and abide by its unique set of rules
  + stars: | 2022-09-24 | by ( Hannah Towey | ) www.businessinsider.com   time to read: +7 min
Insider spoke with four locals (one of whom was deported) about what it's like to work in Svalbard. Svalbard, a Norwegian archipelago 500 miles from the North Pole, is home to the world's northernmost human settlement. He moved to the island from the US in 2008 with around $1 million dollars in the bank and ambitions to launch an English-language newspaper, Sabbatini told Insider. Courtesy of Martin FialaThanks to the local housing crisis, it's easier to find work on Svalbard than a place to live. The price to pay is that it's exhausting and chaotic, but that's pretty awesome," Fiala told Insider.
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