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The Warsaw Voice » Business » January 21, 2009
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Russia Taps Arctic for Energy
January 21, 2009 By L.¯.    
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Arctic regions loom large in the energy development strategy devised by the Russian government to serve the country between now and 2030. Deposits in several Arctic locations will be crucial, according to the document published by the government of Prime Minister Vladimir Putin at the end of last year. The strategy was drawn up as a response to the global financial crisis and aims to set up several energy extraction and transmission facilities in the Arctic shelf.

The Shtokman natural gas field-one of the world's largest-in the Russian sector of the Barents Sea, northeast of Scandinavia, has been flagged for exploitation as has the far east of the country, including the island of Sakhalin, north of Japan. The strategy also makes mention of developing alternative energy sources for the first time ever.

Shtokman Development, a company owned 51 percent by Russian gas giant Gazprom, 25 percent by French petroleum company Total, and 24 percent by Norway's StatoilHydro, started building its first drilling platform in July last year and expects to have it up and running sometime next year.

The strategy provides for 540-600 million metric tons of oil to be extracted annually by 2030 and for natural gas extraction to rise 30 percent to 870-880 billion cubic meters annually between 2020 and 2030. Oil exports between now and 2020 are projected to reach 285-310 million metric tons annually before falling to 258-302 million tons over the next decade. Natural gas exports will increase to 380 billion cubic meters annually between now and 2030.
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