Ministry of Energy to support gas pipeline construction to Japan

This announcement was made by Russian Minister of Energy Alexander Novak on the sidelines of the International Arctic Forum. This decision will be made only if business is interested, he said. Mr. Novak also said that production on the Arctic shelf would become profitable with oil prices at USD 70–100 per barrel, TASS News Agency reports. Mr. Novak also noted that the current level of oil prices would allow for maintaining a balance of supply and demand on the market.