Russia to continue developing Arctic oil, gas resources despite sanctions

What the Russians see is skyrocketing oil prices that aren’t too far away around the corner. They know that this ‘high’ won’t last too long. It also helps them lay claim to the Arctic region and enables them to send the Russian military out to enforce their wish in grabbing hold of the Arctic.

 

Despite falling prices for raw materials, companies should maintain their investment plans not to lose what is done, Russian Energy Minister said in an interview to the Rossiiskaya Gazeta

MOSCOW, January 22. /TASS/. Russia to continue implementing Arctic oil and gas projects despite Western sanctions and low oil prices, Russian Energy Minister Alexander Novak said in an interview to the Rossiiskaya Gazeta that will be published on Friday, January 23.

“We will continue developing the Arctic shelf, as it is our strategic resource,” he said.

Despite falling prices for raw materials, companies should maintain their investment plans not to lose what is done. “They must continue drilling in August-September and the first half of October next year to confirm or deny there are reserves in the geological structures,” the minister said.

Full article: Russia to continue developing Arctic oil, gas resources despite sanctions (ITAR-TASS)

Comments are closed.