News of RAO/CIS Offshore


Russia starts Arctic industrialization

With the large-scale Arctic exploration Russia is beginning "Arctic industrialization," Deputy Prime Minister Dmitry Rogozin told TASS on Tuesday. "The Arctic should be a model cleanness zone, therefore ecology is among top priorities of the region’s development," he said. "Under the Arctic flag now we, in essence, are launching Arctic industrialization, for which we need much new and good equipment."

The state Arctic development program was approved in 2014, and in early 2015 the decree on the establishment of a state commission that deals with the region’s development was signed. Rogozin was appointed the commission head.

"When I began to delve into the course of Arctic affairs, it turned out that the money that we plan to spend on the region’s development is spread over different federal, target and other programs. It is important to gather these funds together, concentrate and effectively spend. The first task to this end is to conduct a financial audit of all the projects planned for the Arctic," Rogozin said. He said private companies that could recoup the investment through the Northern Sea Route use and offshore operations should be more actively involved in the Arctic development. "This is the right way for the country to derive profit from its geographic location."


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