“We have growth all over”, Governor Igor Orlov told President Vladimir Putin this week. However, a closer look at the regional economy shows a different picture.
The two companies will support each other in bids for offshore projects and together counter the power of Rosneft. A key part of the cooperation will unfold in the Barents Sea.
Norwegian oil terminal company Norterminal is boosting its position in Russian Arctic energy as it takes on reloading of more oil from Lukoil’s Varandey terminal.
Low oil prices and sky-high development costs notwithstanding, Russia’s Minister of Natural Resources says works on the Arctic shelf must be intensified.
Russia’s new battle tank is designed for operations in extremely low temperatures. It could be based in the Kola Peninsula, near the borders to Norway and Finland.
