This thesis examines the territorial disputes between Arctic states and investigates why the region has not seen conflict resulting from the disputes and whether this state of affairs will persist. The economic, strategic and symbolic value of the disputed territory is considered for all parties involved, as is the role this value has in fostering cooperative or conflictual relations. Through examination of the Arctic’s disputed territory, it is concluded that the Arctic’s harsh environment has played an important role in limiting the value of the disputed territory and therefore allowing Arctic states to avoid both serious management efforts and conflictual relations. However, the value of the disputed territory is growing, as is the need for states to manage activity in these areas. Should Arctic states continue to leave disputes unresolved, future attempts at resolution will involve more contentious negotiations, along with a greater potential for inter-state incidents and clashes.