Private companies may obtain access to Arctic shelf already this year, says minister
The access to the Arctic shelf can be opened for private companies already in 2019 in case of need, Russian Minister of Natural Resources Dmitry Kobylkin told TASS in an interview on Tuesday.
"Everything is possible, if appropriate documents are prepared in time," the Minister said.
The national budget can receive 5 bln rubles ($77 mln) and more from engaging foreign companies in tapping the Russian arctic shelf, Kobylkin noted. "All the projects are very large and expensive. Probably, 5 bln rubles ($77 mln) and more," he said.
Foreign companies will be able to implement their projects in formats of a joint venture, a special purpose vehicle (SPV) or public private partnership if the government decides to open access to the shelf, the Minister noted. "Any format is possible if this is feasible and brings extra revenues from this economic sector to us," Kobylkin added.
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"Everything is possible, if appropriate documents are prepared in time," the Minister said.
The national budget can receive 5 bln rubles ($77 mln) and more from engaging foreign companies in tapping the Russian arctic shelf, Kobylkin noted. "All the projects are very large and expensive. Probably, 5 bln rubles ($77 mln) and more," he said.
Foreign companies will be able to implement their projects in formats of a joint venture, a special purpose vehicle (SPV) or public private partnership if the government decides to open access to the shelf, the Minister noted. "Any format is possible if this is feasible and brings extra revenues from this economic sector to us," Kobylkin added.
Source