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Canada and Denmark deepen defense ties
Canada and Denmark have signed a defense cooperation agreement on the sidelines of the Munich Security Conference.
The agreement follows the Trump Administration's threats to take over Canada and was signed by Canadian Defense Minister David McGuinty and Danish Defense Minister Troels Lund Poulsen, together with his Greenlandic and Faroese counterparts, Vivian Motzfeldt and Sirið Stenberg.
"Canada is an Arctic nation — and we will defend the North," McGuinty said in a statement after signing the agreement.
The Danish Ministry of Defense reports that the agreement will strengthen defense cooperation between the two countries in a number og areas, including defense innovation, technology, capacity building, and training, exercise and education.
Russia announces new Arctic oil discovery
Russian energy major Gazprom Neft has discovered a new oil field on the Yamal Peninsula that is the largest discovered in the region in three decades, according to a company release.
The new find is located in the Arctic zone of Yamalo-Nenets Autonomous Region, home to the world's largest natural gas reserves but also a region with significant oil potential. Drilling and exploration are challenging as the peninsula is almost entirely covered by permafrost.
The field is part of a large oil and gas cluster in the southern part of the peninsula, according to the company. It was discovered after three years of exploration. Estimated geological reserves are 55 million tons, the company's press release stated.