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Russian Arctic offshore petroleum governance: The effects of western sanctions and outlook for northern development

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  • Shapovalova, Daria
  • Galimullin, Eduard
  • Grushevenko, Ekaterina

Abstract

The Arctic has historically been a strategically important region for Russia, from before the Cold War to the recent efforts in increasing shipping along the Northern Sea Route. Russia holds the largest share of petroleum resources in the Arctic, the governance model for which has been changing over the past few decades based on the current political priorities, external events, and geophysical changes in the region. Following the conflict in Ukraine, the European Union and the United States adopted sanctions limiting the cooperation between Russian and western companies for Arctic offshore petroleum development. This paper analyses the transformation in national governance of natural resources in the Russian Arctic, focusing on offshore oil and gas. It provides a historical background of the governance model to facilitate the analysis of the effects of western sanctions on the current resource development and its regulation. Through the analysis of legal and policy documents, this paper provides an outlook for future developments in the Russian Arctic offshore resource governance.

Suggested Citation

  • Shapovalova, Daria & Galimullin, Eduard & Grushevenko, Ekaterina, 2020. "Russian Arctic offshore petroleum governance: The effects of western sanctions and outlook for northern development," Energy Policy, Elsevier, vol. 146(C).
    • Handle: RePEc:eee:enepol:v:146:y:2020:i:c:s0301421520304766
    DOI: 10.1016/j.enpol.2020.111753
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    References listed on IDEAS

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    Cited by:

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    2. Shuaiyu Yao & Mengmeng Chen & Dmitri Muravev & Wendi Ouyang, 2021. "Eco-Efficiency Analysis for the Russian Cities along the Northern Sea Route: A Data Envelopment Analysis Approach Using an Epsilon-Based Measure Model," IJERPH, MDPI, vol. 18(11), pages 1-16, June.
    3. Anastasia B. Likhacheva, 2021. "On the Strategic Effects of Unilateral Sanctions: Russian Experience," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 52-66, August.
    4. Diana Dmitrieva & Victoria Solovyova, 2023. "Russian Arctic Mineral Resources Sustainable Development in the Context of Energy Transition, ESG Agenda and Geopolitical Tensions," Energies, MDPI, vol. 16(13), pages 1-28, July.
    5. Rivera-Alonso, David & Iglesias, Emma M., 2024. "Is the Chinese crude oil spot price a good hedging tool for other crude oil prices, and in special for the main Russian oil benchmarks and during international sanctions?," Resources Policy, Elsevier, vol. 90(C).
    6. Henrik Wachtmeister & Johan Gars & Daniel Spiro, 2022. "Quantity restrictions and price discounts on Russian oil," Papers 2212.00674, arXiv.org, revised Dec 2022.
    7. Natalia Romasheva & Diana Dmitrieva, 2021. "Energy Resources Exploitation in the Russian Arctic: Challenges and Prospects for the Sustainable Development of the Ecosystem," Energies, MDPI, vol. 14(24), pages 1-31, December.
    8. Eichhorn Colombo, Konrad W., 2023. "Financial resilience analysis of floating production, storage and offloading plant operated in Norwegian Arctic region: Case study using inter-/transdisciplinary system dynamics modeling and simulatio," Energy, Elsevier, vol. 268(C).

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