Energy minister comments on Arctic development prospects

Russian Minister of Energy Alexander Novak spoke about prospects for the Arctic’s development in an interview on the Saturday News with Sergei Brilyov programme on Channel One.

Novak noted that active development has been under way in Russia’s Arctic zone in recent years.

“Today, 17% of all Russian oil and 80% of gas is produced in the Arctic. Oil production has begun on the Arctic shelf. Production at the Prirazlomnoye field already totals 2.2 million tonnes with the prospect of reaching 6.5 million tonnes”, Novak said.

The Minister also spoke about the impact of sanctions on projects in the Arctic.

“Not a single Russian project has been suspended. Our industry is only benefiting from the sanctions. For example, today Gazprom is using 100% Russian-made equipment in the Arctic zone. As for the imports that remain, we are reoriented ourselves to our Eastern partners”, Novak said.