Could the Arctic become a battleground over control of large reserves of oil and gas thought to lie under the Arctic Sea, or will there be co-operation in the polar region? This will be a question for politicians and experts from around the world as they meet in Moscow.
In a grimy shipyard in St Petersburg, an ugly hulk of red-painted metal sits floating in the dock.
On deck, workmen scurry back and forth, hammering, drilling and welding.
In 2007, Artur Chilingarov planted a Russian flag on the Arctic seabed
This strange construction, part ship, part platform, is unique and lies at the heart of Russia's grand ambitions for the Arctic.
When it is completed in 2012, it will be the first of eight floating nuclear power stations which the government wants to place along Russia's north coast, well within the Arctic Circle.
The idea is the nuclear reactors will provide the power for Russia's planned push to the North Pole.
Moscow is claiming more than a million square kilometres of extra territory in the Arctic, stretching from its current border in the Arctic Sea, all the way to the Pole.
'Complicated and dangerous'
The area includes an underwater mountain range called the Lomonosov ridge, which some Russian scientists claim could hold 75 billion barrels of oil.
This is more than the country's current proven reserves.
"These [floating nuclear power stations] have very good potential, creating the conditions for exploring the Arctic shelf and setting up drilling platforms to extract oil and gas," says Sergey Zavyalov, deputy director of the operating company, Rosenergoatom.
"Work in the Arctic is very complicated and dangerous and we should ensure there's a reliable energy supply."
He says each power station, costing $400m, can supply electricity and heating for communities of up to 45,000 people and can stay on location for 12 years before needing to be serviced back in St Petersburg.
And while initially they will be positioned next to Arctic bases along the North coast, there are plans for floating nuclear power stations to be taken out to sea near large gas rigs.
"We can guarantee the safety of our units one hundred per cent, all risks are absolutely ruled out," says Mr Zavyalov...
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Richard Galpin @'BBC'
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