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.
Oil nation Norway will in its upcoming license round offer blocks as far north as the Svalbard Fisheries Protection Zone and as far east as the Russian border.
Rosneft intends to produce gas at its huge fields in the Kara Sea and has started to look at the possible construction of a LNG plant in the nearby Yamal Peninsula. The plant could be located alongside similar plants operated by Novatek.
Rosneft has got its first $20 billion advance payment tranche from China as part of its giant oil supply deal with the country. The money will be invested in strategic projects, company President Igor Sechin says.
Western oil companies are sponsoring the exploration of Russian Arctic waters, and the grand Yamal LNG project gets the lion’s share of investments from French and Chinese partners.
A major number of oil companies are signaling interest in Norwegian Arctic waters adjacent to the Russian border. However, spiraling investment costs, as well as sensitive political considerations, could stagger project developers.
