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Russian ministry: Decision to admit private companies to Arctic offshore fields not final

June 15, 11:21 UTC+3 MOSCOW
In early June, Natural Resources Minister Sergey Donskoy told reporters that private companies would be able to participate in projects for the development of the Arctic shelf in the long run
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© AP Photo/Rosneft press service

MOSCOW, June 15. /TASS/. The decision on granting access to private companies to the development of Arctic offshore deposits is not final and at the moment The Natural Resources Ministry is considering it, Natural Resources Minister Sergey Donskoy said in an interview with TASS.

"This issue has not been solved yet ... We are considering it. Today the companies consider all projects from the perspective of long-term prospects," he said.

Donskoy noted that the projects on the Arctic shelf are rather capital-intensive and risky, and the implementation of the first projects will immediately reduce the risk for the following ones.

In early June, Donskoy told reporters that private companies would be able to participate in projects for the development of the Arctic shelf in the long run.

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