Putin wanted to expand the borders of the oil shelf in the Arctic: Canada and Denmark have claims
The discussion was attended by several high -ranking officials, including the Secretary of the Council of Soviets Mykola Patrushev, the Minister of Defense Sergei Shoig and the head of external intelligence Sergey Naryshkin. "We have today, colleagues, some important issues concerning both the internal agenda and the issue of the external border of the continental shelf of the Russian Federation in the Arctic Ocean," the press service of a short replica of the president.
Reuters adds to Putin's meeting about Russia's efforts to expand the external borders of the shelf. In 2021, Russia applied to the UN to change the borders of the shelf, which contains large reserves of oil and gas. Moscow stated that she needs a lot more seabed in the Arctic. Such a step has consequences for Canada and Denmark, which have their claims to this territory.
"Russian neighbors from the Arctic are increasingly worried about Moscow ambitions in a strategically important region after it sent tens of thousands of military to Ukraine in Ukraine. In recent years, NATO members have intensified military training in the Arctic, as Russia has expanded and updated military infrastructure in the region ", - says Reuters.
The Arctic zone of Russia has a length of up to 5 million square kilometers - along the shores of Barentsev, the Kara Seas, the Sea of Laptev, the East Siberian and Chukotsky seas to the Bering Strait. About 90% of Russian gas and almost 60% of oil are extracted in the Arctic, there are up to 2/3 of Russian oil and gas fields, Western experts say. In April 2021, the Ministry of Energy of Russia declared the inability to actively produce oil on shelf until 2035.
Such a forecast was explained by the lack of technologies in Russia and in the world. Existing technologies allow you to develop a shelf, but the process will be unprofitable for oil prices below $ 80-90 per barrel. The hydrocarbon resources of the Arctic shelf were estimated at 83 billion tons of fuel, up to 80% of the Barents and Kara Sea.
Dmitry Marynchenko, director of the natural resources and raw materials of Fitch Rathings, recognized the influence of Western sanctions on the development of oil production on shelf. "Intelligence wells can cost hundreds of millions of dollars. Another big problem is Western sanctions, the experience of drilling in the Arctic with Russian companies is quite limited," the analyst said. We will remind that Poland and Norway September 26 last year signed a contract for the supply of 2.