Baffin Bay Geological Survey has estimated that at least 13% of the world's undiscovered oil deposits and 30% of the world's undiscovered gas pockets are located in the Arctic, with the seas around Greenland potentially holding large amounts of natural gas and lesser amounts of crude oil and natural-gas liquids. Accordingly, the Greenland authorities have offered a large number of off-shore concessions for potential hydrocarbon (oil and gas) extraction. The largest concession-areas are located in seas west of Greenland; primarily in Baffin Bay and the Davis Strait, but with several smaller concessions in the Greenland Sea in the east also. Baffin Bay
Miyako Strait Miyako Strait The , also known as the Kerama Gap, is a waterway which lies between Miyako Island and Okinawa Island consisting of an approx. 250km wide passageway with international waters and airspace. It is the widest strait in the Ryukyu Islands. The Miyako Strait is of global geopolitical significance, as it is one of the few international waterways for China's People's Liberation Army Navy to access the Pacific Ocean from the East China Sea. Japan insists that China has committed to informing them in advance if their Navy sails through the strait, a claim that the Chinese deny has