Cows are grazing in the streets and the only decent building is the one currently renovated by the Shtokman Development AG. Welcome to Teriberka, the future hub of the world’s biggest offshore gas field.
China will increase Arctic research and expedition efforts, the country’s top administrator on Polar research says. The undiscovered oil and gas resources in the Arctic are global resources, not regional, he claims.
Norwegian oil major Statoil has got permission for drilling at the Skrugard field in the Barents Sea. Together with ENI, the company now also seeks permission for drilling at the Lunde field, located closer to land in the area.
Although Gazprom sells less gas to Europe, the company is boosting its revenues. The reason is bigger incomes from the domestic market and from the company’s subsidiaries within transport and electricity generation.
The regional government of Murmansk on Wednesday signed an agreement on the establishment of a special economic zone in the Port of Murmansk. Several companies stand ready to place significant investments in the zone.