«How will arctic projects
evolve in the context of
current economic challenges?»

To date, the Arctic accounts for up to 15% of Russian GDP. The government understands what the Arctic means for the global economy. Starting from 2020, the government grants preferences for investment projects which will be developed in the Arctic zone, including reduction of tax burden, provision with infrastructure and social benefits. However, the challenges of Arctic exploration are obvious: multi-million investments are needed.

Being a vanguard of the Russian Arctic, Yamal peninsula features a series of flagship investment projects, such as Arctic LNG-2, Yamal LNG, Western-Messoyakha field, Kharasavey Gas Condensate Field, and others. These projects are getting ready to be launched soon, pledging to contribute to Russian economic growth.

But what is the status of the key projects in Yamal and the Russian Arctic? What are the development plans of CEOs of these major oil and gas projects?