Summary of gear needed for backcountrty skiing in Iceland as obtained from the Web page
http://www.mountainguide.is/

SLEEPING BAGS

-Down or fiber sleeping bag. It is necessary that it is both light weight and warm.
We recommend goose down with high fill power or Quallofil 7 sleeping bags.
Fiber bags are easier to keep free of moisture when in longer tours, down is
lighter and less volume. Bear in mind that isolation capacity of sleeping bags
is usually highly exaggerated, so you will need one marked for a minimum of -15°C
in the summer hikes, -30°C or colder during winter tours.

CLOTHES

All inner clothing should be wool or fleece/polyester. Those materials keep their
insulation capacity when they get wet, which is essential for Icelandic conditions.
Avoid all cotton materials, and jeans should never be worn during any
mountain tours. The outer layer must be wind and waterproof.
The outer trousers must be of a strong and light material that dries
quickly (this might be an exception from the "no cotton" rule)

TENTS

Hiking tents are quite different in form and definition, their basic
conception being based on very differernt criteria. One design is
normally adapted to quite precise conditions of use, making it
sometimes difficult to find a tent for local particularities.
Very often one has to go for a compromis.
Super-light hiking tents have often restrictions in volume, lack
of resistance to wind and water, and a number of other disadvantages.
We have tried to find combinations in this matter; opting more for
waterproof tents that resist to wind, sometimes sacrifying a little bit
of the advantages in space and light weight.
Those we can compensate for by other means.
Actually we haven't seen yet an ideal tent for Icelandic
conditions; it probably hasn't been produced yet...

SKIS

-For the ever-variable snow conditions and landscape in Iceland,
so-called touring skis are the best option; those are large x-country
or Nordic skis (sometimes called Telemark skis) with solid fixations,
preferable of type Rottefella 75mm or similar.
(Stiff plate bindings for mountain skis don't work out well)
So called BX bindings can work also, (the bindings consist of a
metal bar incorporated in the shoe and the corresponding mechanical
grip on the ski), the CX variant is way too light. For solidity and maintenance
 reasons we rather recommend the 75mm system (Rottefella or Riva bindings).
The skis should be with fish-scales sole (unless you're an expert in klister and waxing).
Klister skis are much more fun once one has mastered the
art of klistering; less noise and more speed - if the conditions
don't change like it's very probable here in Iceland.
There are also some types of finely scaled skis which belong in between
 the other categories, this sole is called "Microstep" or similar.
Solid coarse fish scales function best in hard and icy snow, they
diminish the usage of skins considerably.

N.B: Do not mix (vebally) Wax and Klister; Waxes are used for better
gliding and protection of the polyurethane sole - all skis should be
waxed regularly, otherwise the sole dries and becomes damaged.
Klister on the other hand is to get a grip on the snow when
kicking in the step - it makes a bound between ski and snow at
the right moment. Some confusion in terms has been widespread
and is to blame on the advertising slogan "waxless skis" used for
fish-scale skis (those have to be waxed regularly - but you don't use
klister on them).

Rather high ski boots with Vibram sole. The BX type boots are often
with a plastic sole, the more rugged rubber walking sole variant is preferable.
Cross-country ski poles with large disks. Telescopic poles can work
only if long enough, these have tendency of various problems.

One needs so-called seal-skins for uphill ascents, normally the
length of the ski but slightly narrower. Some have tried shorter skins
just under the middle of ski to diminish friction; this has not given
convincing results. A better way is to take even narrover skins
but full length, sometimes even by cutting one skin in halves by the length.

Emergency equipment:

First of all let’s remind us, when traveling in Iceland, especially in
the winter time that it is necessary to leave travel arrangements
with someone responsible, in case the person does not arrive
on time from the backcountry and a rescue is needed.

Telephone NMT format, as GSM format has no coverage
outside populated areas in Iceland.

Bivy Sack is reccomended to use inside the tent along with a sleeping bag.

GPS unit.