Statoil did not discover oil in the controversial Apollo well near Bear Island.

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.

Kola NPP (

On June 27th, 1973, reactor No. 1 at the first nuclear power plant ever built north of the Arctic Circle was started. It was designed for a life-time of 30 years, but is still in operation.

Russian energy major Gazprom steps up investments in projects like the Shtokman field in the Barents Sea. In the company‘s revised investment program for 2008, investmests will amount to 821.66 billion RUB, which is up 111.53 billion from original plans.

The Baidarata Bay, Yamal

Russian energy major Gazprom has started the construction of the 72 km sub-sea part of the Bovanenkovo-Ukhta pipeline. The pipeline will link the gas-rich Bovanenkovo field at the Yamal Peninsula with the Russian pipeline grid.

Tanker "Arkhangelsk" (

Russian oil major Rosneft has got its first ice-protected tanker for operations in the Barents Sea. The 30,000 ton vessel named “Arkhangelsk” will ship oil from the Timan-Pechora province to Murmansk.

Russian energy giant Gazprom says it will downpay up to one third of its mounting debts by the end of the year. The company now has up to 1,5 trillion RUB (42 billion EUR) of debts.

Anatolii Ledovskikh (

The Russian government is dissatisfied with the level of exploration drilling on the country’s Arctic shelf. Now, it proposes the establishment of a state company exclusively dedicated to drilling in the region.

Gazprom headquarters

Despite the international finance crisis, Russian energy major Gazprom in the third quarter of 2008 increased headquarter staff with 10,5 percent and lifted average managers’ salaries with five percent.

The Shtokman Development AG plans to sell 70-80 percent of LNG from the Shtokman field in contracts, company leader Yury Komarov indicated in a conference this week.

Arctic oil shipping

As the amount of Russian oil exported through Arctic waters increases, several Norwegian ports and terminals now step up their bids for participation in the lucrative oil trade.

The joint venture RusVietpetro will start extracting oil in Nenets Autonomus Okrug.

The Nord Stream pipeline

International consultations on the Nord Stream project will be completed in June, the Russian Ministry of Natural Resources says.

Russian gas

Gazprom has over the over the last five months produced 58 billion cubic meters less gas than in the same period in 2008.

The Nord Stream project

The two German partners in the Nord Stream company, BASF/Wintershall and E.ON Ruhrgas, are both willing to lower their shares in the project in order to include the French gas major Gaz de France.