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Melting ice not opening Arctic region to oil bonanza

Teriberka, a poor fishing village of 1,000 people, is where Gazprom's offshore ambitions collided with the Arctic's harsh realities.

Teriberka, Russia

THE warming Arctic should already have transformed this impoverished fishing village on the coast of the Barents Sea.

The Kremlin spent billions in the last decade in hopes of turning it into a northern hub of its global energy powerhouse, Gazprom. It was once the