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.
“Arctic offshore oil production is only profitable at an oil price of 100-120 dollars per barrel” says Former Prime Minister and Foreign Minister Yevgeny Primakov.
Scientists have realized for some time now that the extraction of fossil fuels must dramatically slow down if the global temperature rise is to be kept under 2°C.
The Swedish, Finnish and Norwegian Barents counties have set a new record in renewable energy. Patchwork Barents presents the current state of wind electricity production in the Barents Region.
The company increases production capacity at its Bovanenkovo field to 90 billion cubic meters. The Arctic gas might soon be sold to China, the company says.
Brent crude tumbles below $50 per barrel on Wednesday, but Eni insists the economics are robust at the €4,86 billion Goliat field. Also the Norwegian Oil and Gas Association has great faith in the future in the Barents Sea.
As national economy slides towards the abyss, Russia grants 150 billion roubles from its National Wealth Fund to gas company Novatek’s Yamal LNG project.
