The U.S. is reportedly set to sign a memorandum with Japan and South Korea, to set up a cooperative framework around shipping and energy in the Arctic region.

According to Splash247, foreign ministers for the three countries are expected to sign the deal on the sidelines of the UN General Assembly in New York toward the end of September. The memorandum would establish a trilateral partnership centered around shipping routes, energy resources and economic security. That could include consulting on expanding production of Arctic oil and natural gas deposits, as well as the sharing of maritime icebreaker technology. 

Shipping through the Arctic has long been limited by frigid temperatures and widespread ocean ice coverage, which in the past have made it nearly impossible to transit the region outside of a short summer period. However, warming global temperatures have widened that window in recent years, with the Arctic's summer sea ice coverage having fallen by a third since 1979.

In August, Chinese shipper Sea Legend launched the world's first regular cargo service to Europe through the Arctic Circle. Days later, A South Korean container ship made the country's first ever commercial voyage to Europe through the Arctic. Sea Legend claims that the Arctic route could halve emissions, while operating as an alternative to longer voyages through Middle Eastern routes that have become increasingly dangerous and costly in recent months.

Conversely, environmental groups have been critical of an expansion of shipping through the Arctic, citing concerns over how it might accelerate the impacts of climate change. Research has shown that black carbon emissions from ships burning fossil fuels can settle on snow and ice and speed up melting, while oil spills in Arctic waters can be nearly impossible to clean up once the substance gets trapped in ice.