Building on stakeholder management theory, this article examines the salience of Asian stakes in three key areas of Arctic governance: management and use of natural resources; shipping; and environmental protection. The Asian states that are now permanent observers in the Arctic Council have significant stakes in Arctic governance, but their salience varies considerably across these issue areas.

In late 2012, the first liquefied natural gas tanker to sail through the Northern Sea Route reached its destination in Japan, carrying gas from a Euro–Arctic offshore field. Only months earlier, a Korean-owned naval architecture and engineering company had won the contract for designing the long-awaited new icebreaker for Canada's coast guard, 1 and China had completed its fifth Arctic marine survey from its own ice-capable research vessel.