MOSCOW, February 20. /TASS/. The joint implementation of projects in the Arctic by Russia and the United States may be a most effective area in cooperation between the countries, in particular, not only in hydrocarbons extraction, but also in development of the Northern Sea Route and making the Northern Air Bridge, Alexey Fadeev, Doctor of Economics, Deputy Chairman of the Public Council at St. Petersburg's Committee on Arctic Affairs, told TASS.
Earlier, head of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, said in an interview with the Politico that Russia and the United States during a meeting in Saudi Arabia discussed possible joint projects in the Arctic.
"Russia has always been open to cooperation with international partners. The Arctic is exactly the area where cooperation may be most effective. Its hydrocarbon potential's development is a possible area for agreements between the US and Russia. The United States has significant experience in developing both offshore fields in the Gulf of Mexico and shallow-water fields in the Beaufort Sea in Alaska. The transfer of effective organizational, economic, environmental experience and knowledge would be useful for both sides," Alexey Fadeev said.
In 2012, Russia began cooperation with the United States in this area, he continued. In 2012, Rosneft signed agreements with ExxonMobil and General Electric, and they discovered the Pobeda field in the Kara Sea, but in 2014, due to complicated Russian-American relations, the cooperation was frozen, and ExxonMobil was forced to quit the project.
Transport and logistics links
Transport and logistics may be another area of cooperation between Russia and the US in the Arctic. "The Northern Sea Route is a true alternative to existing global solutions. It may be used to ship goods from the West to the East and back, including liquefied natural gas, which over recent years the US has been developing actively. In addition, some 20 years ago, in the 2000s, quite popular was the Northern Air Bridge project of cross-polar flights from Southeast Asia crossing the Arctic towards North America," the expert said.
The air route through the Arctic cuts flight time, where long distances between continents may be covered within 10 hours. One of the global problems that hindered this project was the necessary substantial cargo base - such a flight's load should be at least 80-85% to be profitable. The two countries could solve this task, and the airports on the route could develop into major transport hubs.
Ecology of high latitudes
No less important than economic projects in the Arctic remain the environmental consequences of developing high-latitude areas, the expert continued. The US and Russia are members of the Arctic Council, which features also Finland, Sweden, Norway, Denmark represented by Greenland, Iceland and Canada. Russia's cooperation with that organization has hardly been full-fledged in recent years. Despite their political differences, those countries are collectively responsible for the region in terms of the environmental agenda, since the changing Arctic climate can change the climate of the entire planet. Major powers, such as Russia and the United States, have all the necessary knowledge and technology to preserve the fragile Arctic ecosystem.
"The Arctic is no longer a territory of heroism. It is a promising economic zone with opportunities for international cooperation in various areas. Both Russia and the US have interests also in the military-industrial complex in the region, as well as in the extraction of biological resources, aquaculture, and in the transport sector development. The Arctic is becoming a truly inhabited territory with a high prospect of development through joint efforts," the expert said in conclusion.