Billions are invested in the Zvezda yard outside Vladivostok to make it capable of meeting Russia’s growing demand for ice-protected ships and platforms.
The Russian presidential administration supports opening the Arctic shelf for private companies. This could open up for Russia’s biggest private oil producer Lukoil.
RAAHE: Development Manager Juha Miikkulainen doesn’t think the current disagreements between EU and Moscow will affect Finland’s plans for Pyhäjoki nuclear power plant where Russia’s state nuclear corporation Rosatom is heavily involved.
At an oil price of $60 per barrel, Russia’s only offshore oil-producing field in the Arctic, Prirazlomnaya, is unprofitable even with heavy state support.
Gas production in northern Norwegian waters is steadily making its way. But more discoveries and new infrastructure are needed for the region to become a major supplier to the continent.
As the Goliat platform approaches the Barents Sea ready to start drilling, oil companies’ interest in the Arctic reaches new low. Statoil postpones the development of its Johan Castberg field.
