The governemnt of Greenland has, on 24 June 2021, decided, to cease issuing new licenses for oil and gas exploration in Greenland. Therefore, the open door procedures have been closed, and the upcoming licensing rounds has been cancelled.
The decision has been made for the sake of the nature, fisheries, and the tourism industry in Greenland, and to focus the Greenlandic business on sustainable potentials.
The full press release can be found here.
Greenland is geographically part of the North American shelf, but part of the Danish Kingdom and politically and economically close to Denmark.
In 1721 Greenland became a colony of Denmark, and it was not until 1953 that Greenland had its status renewed and became a constituency in the Danish Kingdom. Partly due to the fast growing modernization of the Greenlandic society, and partly due to general shifts in the political landscape in the 1970’s, there was Greenlandic demands for greater economic and political independence. In January 1979 63 % of the voters in Greenland voted in favor of a Home Rule, and in 1979, Greenland Home Rule was established within the Kingdom of Denmark.
The political and economic interdependence has continued and in 2009, the Greenland Self-Government replaced the Home Rule Government. Among the changes made in Self Government Act was that Greenland took over full sovereignty and administration of its underground and natural resources, including hydrocarbons. A few policy areas remains however to be determined by the Danish Government, including foreign policy, citizenship, monetary policy, justice and defense.Continue reading