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The Arctic is the fastest-warming region of the globe, with temperatures rising at least twice as quickly as the rest of the planet. While that means hardship for much of the area鈥檚 wildlife and indigenous peoples, it鈥檚 also creating many opportunities. As the ice melts, new, lucrative shipping routes are opening up and improving access to potential new oil fields, while valuable minerals are being discovered under vanishing glaciers.

But with new opportunities comes increased interest. In the past few years Arctic countries have expanded their presence in the Far North, opening new military bases and building powerful new icebreakers. They鈥檝e also been trying to further expand their borders under the Arctic Ocean - with three countries claiming ownership of the North Pole.

Will the Arctic become the next "Great Game"? Could this competition lead to conflict? Or have negotiations in the Arctic so far proven that it can remain a zone of co-operation?

Owen Bennett Jones presents a special edition of Newshour Extra from the Arctic Circle conference in Reykjavik, Iceland.

(Photo: an iceberg in Ilulissat, Greenland. Credit: Getty Images)