RUSSIA’S INVESTMENTS IN ENERGY PROJECTS IN THE ARCTIC: OPPORTUNITIES AND PROSPECTS

Author(s): Izmaylov M.K., Smirnova N.A.

Rubric: Economics of sustainable development

DOI: 10.21777/2587-554X-2023-4-

Release: 2023-4 (47)

Pages: 39-46

Keywords: investments, energy projects, Arctic, Arctic zone of Russia, oil and gas industry

Annotation: The article conducts an overview study of the features of Russia’s investments in energy projects in the Arctic. The investment priorities of Russia in the Arctic, defined in modern strategic documents, are analyzed. Statistical data on the dynamics and structure of investments in fixed assets carried out on the territory of the Arctic zone of the Russian Federation are presented. The largest Russian energy projects in the Arctic are analyzed in detail. The main problems and difficulties of Russian investments in energy projects in the Arctic are highlighted, which were conditionally divided into four main groups - the difficulty of access to resources, difficulties in providing energy infrastructure, geopolitical difficulties and logistical problems. The prospects for the implementation of Russian investment projects in the Arctic region are determined. The necessity of strengthening the work on stimulating investments in the development of technological support for energy projects in the Arctic, the development of transport and logistics routes for the movement of Arctic oil within the country, ensuring more efficient develop- ment of Arctic oil refining both for the domestic market and for export is substantiated.

Bibliography: Izmaylov M.K., Smirnova N.A. RUSSIA’S INVESTMENTS IN ENERGY PROJECTS IN THE ARCTIC: OPPORTUNITIES AND PROSPECTS // Economics and Management. – 2023. – № 4 (47). – С. 39-46. doi: 10.21777/2587-554X-2023-4-