Energy

Japan will send a delegation to Greenland to assess potential rare‑earth mining, according to Nikkei, with officials from its Economy, Trade and Industry ministry, trading firms and the Japan Organization for Metals. The visit aims to evaluate extraction feasibility amid growing demand for rare‑earth elements critical to electronics and green technology.

The Hill opinion piece notes that on June 5 a lease sale in the Arctic National Wildlife Refuge began offering public land in the coastal plain, raising concerns about impacts on the refuge.

A June 5 lease sale opened the Arctic National Wildlife Refuge’s Coastal Plain to oil and gas exploration, a move the author argues threatens the refuge’s wildlife, hunting and fishing opportunities, and could set a precedent for future development on public lands.

Capital is moving into Arctic projects that target onshore and offshore ice deposits, marking a new surge of investment in Arctic mining.

Alaska House advances a multibillion‑dollar tax break for the proposed trans‑Alaska natural gas pipeline, sending the bill to the Senate for further consideration during a special session that ends June 19. The measure would replace the state’s 2% petroleum property tax with a gas shipment tax, potentially shifting about $800 million in revenue from local governments to the state while generating $600‑$700 million in new state revenue.

Alaska’s House approved a bill that slashes property taxes for state and local communities by about 85% to support the Alaska LNG megaproject, while preserving production taxes, royalties, and a new volumetric tax on gas volumes. The measure, which still needs Senate approval, could unlock billions in revenue and bring the project closer to construction.

Greenland’s recent approval of the Tanbreez rare‑earth project and the US’s new deep‑sea mining permitting framework highlight how Arctic and oceanic mineral frontiers are now caught in a policy and environmental cross‑fire, with legal disputes over Greenland’s Kvanefjeld and Norway’s paused seabed plans underscoring the growing complexity for investors.

Oil and gas lease sale in the Arctic Refuge under the NPR‑A program produced poor results, according to a fact sheet released June 5 2026.

APA Corp’s purchase of Savant Alaska LLC adds 17,000 net acres, Badami facilities with 40,000‑bpd capacity, and the Nutaaq Pipeline to its Alaska North Slope portfolio, enabling a planned two‑well drilling program for 2026‑2027 and strengthening regional oil infrastructure.

Alaska House is set to vote Friday on an 85% state tax cut for the proposed trans‑Alaska natural‑gas pipeline, a move lawmakers say could make the $44‑$54 B project economically viable; the bill is expected to pass the House but Senate approval remains uncertain.

During a House floor speech, Rep. Raul Ruiz (D-CA) criticized the Trump Administration's push for oil leases in the Arctic National Wildlife Refuge, accusing it of attempting to sell the protected area to big oil.

A preliminary agreement between the Alaska LNG developer Glenfarne and 18 building‑trade unions establishes a framework to prioritize Alaska workers for the $45‑$55B project, which includes an 800‑mile pipeline and a gas‑treatment plant on the North Slope.

Oslo is urging the EU to lift its Arctic drilling moratorium, which could open the region to new oil and gas exploration.

A Senate Finance Committee hearing revealed that Alaska’s 1973 property tax rules, designed for oil, fail to support the state’s LNG and North Slope natural gas projects, prompting calls from former legislators to update the framework.

Alaska lawmakers have moved a bill that would slash property taxes and impose a small volumetric tax on the proposed Alaska LNG megaproject, giving the developer Glenfarne and Governor Mike Dunleavy a clearer fiscal path. If passed, the bill would set up a 10‑year tax abatement, a $40‑80 million community impact fund, a gas‑price cap and a $120 million annual tax revenue stream, while still facing Senate resistance.

Alaska’s House Finance Committee approved a tax bill that would largely eliminate state and municipal property taxes on the proposed 800‑mile natural‑gas pipeline from the North Slope to Cook Inlet, replacing those revenues with fees from gas flow. The measure, pushed by Gov. Mike Dunleavy and the Glenfarne Group, now moves to the House floor before the special session ends on June 19.

EU imports 18% more Russian LNG from Yamal than the same period last year, with 92% of Yamal cargoes destined for EU ports, indicating the short‑term ban has not yet shifted import flows.

Alaska's special legislative session aims to resolve a stalled pipeline tax debate that has held back the state’s North Slope gas export project for years.

Novatek is buying 10 ice‑class LNG vessels—six new Arc7 ships and four existing ice‑strengthened units—from MOL and Hanwha Ocean, boosting its Arctic LNG transport fleet.

Spain is driving May purchases of Russian Arctic LNG, helping EU imports from Yamal rise in the first five months of 2026 despite new export restrictions.