Private companies might be allowed to operate in the Russian Arctic

RUSSIA / FSU POLITICS - In Brief 04 Sep 2019 by Alex Teddy
On September 4 the Russian Government announced that it may permit private companies to work in the Arctic providing services to oil and gas companies. The oil and gas sector in the Arctic is still all state sector. The announcement was made at an economic forum held in Vladivostok on Russia's Pacific Coast. The Arctic's huge untapped hydrocarbon reserves are becoming more obtainable due to global warming. Environment Minister Kobylkin said the level of investment needed to do this was beyond what the state can afford. Currently only Gazprom and Rosneft have licenses to operate in the Russian Arctic.

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