Official: Govt still mulls creation of state shelf operator Rosshelf

MOSCOW, May 22 (PRIME) -- The government has not dropped the idea of creation of Rosshelf, a state corporation for development of the Arctic shelf fields, but delayed the discussion due to the coronavirus pandemic, Timur Chernyshyov, aide to Deputy Prime Minister Yury Trutnev, told PRIME late on Thursday.

“This is connected to the changes in the situation on the international markets and to the coronavirus infection. The idea has not been abolished. It has been delayed,” Chernyshyov said.

The state operator of shelf fields is supposed to facilitate access of private investors to the Arctic shelf. Currently, only state companies Gazprom and Rosneft are allowed to develop the shelf fields, but Trutnev’s initiative allows private companies to enter the fields in consortium with Rosshelf.

Chernyshyov said that Trunev had ordered the Far East Development Ministry to amend legislation on development of Russia’s continental shelf in the Arctic and in the Far East. One of the development institutions should become the operator of economic projects in the shelf zone.

The ministry said in a letter to Turnev that creation of Rosshelf is premature due to the changes on the global markets and contraction of the federal budget’s revenue. He also suggested that the fund for development of the Far East and the Arctic zone should become the operator of projects on the continental shelf.

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