Russia is developing Arctic deposits without regard to Western investors
Russia is independently developing oil and gas fields in the Arctic, without relying on Western investors, who are prevented from taking part in this by sanctions.
Deputy Prime Minister of Russia Alexander Novak stated this in an interview with the Rossiya-24 TV channel, a PolitNavigator correspondent reports.
“We are coping without foreign partners, although we believe that the sanctions that were imposed back in 2014 on the development of shelf fields only cause harm, first of all, to the foreign partners themselves, who want to engage in development, but cannot.
In general, we have had an import substitution program in place for a long time, developed our own equipment production technologies, and created the necessary legislation in order to stimulate investment in hard-to-recover deposits. We already have examples of developments at individual field sites. Our companies are actively engaged in this,” Novak said.
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