Putin: Russia, US have huge prospects for oil, gas coop in Arctic

ARKHANGELSK, Mar 30 (PRIME) -- Russia and the U.S. have significant prospects for cooperation in hydrocarbon development in the Arctic, President Vladimir Putin said at a forum on Thursday.

“Let alone significant opportunities for hydrocarbon and mineral resources development in the Arctic zone, we have good examples – these are tremendous prospects for both Russia and the U.S., and the whole world. I hope we will be able to enter a “two-way road” and will improve relations between the two countries,” Putin said.

“As for the Arctic zone, we are cooperating with our American partners under the aegis of the Artic Council. Now the Council is chaired by the U.S., and we have jointly worked on a corresponding agreement, which is to be adopted soon, at an expert level… it concerns cooperation in scientific surveys in the Arctic zone. I think it is really important,” the president said.

The countries continue cooperation in the spheres of a non-visa regime and cross-border travel for people who live near the Bering Strait, secure navigation in the Bering Strait region and some fishery and environmental protection issues, he added.

Putin said that all counties have the right to work in the Arctic, but the work should be organized in a proper way.

The president also said that Russia sees no reasons for conflicts in the Arctic region, as the international legal norms clearly define rights of states and are the common ground for cooperation and solving of all problems including such hot issues as the continental shelf delimitation in the Arctic Ocean.

End