Strategic Sustainability of Offshore Arctic Oil and Gas Projects: Definition, Principles, and Conceptual Framework

• Published in: Journal of Marine Science and Engineering
• Main Authors: Diana Dmitrieva, Alina Cherepovitsyna, Gennady Stroykov, Victoria Solovyova
• Format: Article in Journal/Newspaper
• Language: English
• Published: MDPI AG 2021
• Subjects: strategic sustainability; oil and gas offshore projects; Arctic; energy markets; Naval architecture. Shipbuilding. Marine engineering; VM1-989; Oceanography; GC1-1581
• Online Access: https://doi.org/10.3390/jmse10010023; https://doaj.org/article/508ed994d7644bff84e850bfc7d65d74

Exploitation of oil and gas resources in the Arctic offshore is one of Russia’s key priorities in such areas as science, economy, and technology. Global trends, harsh climate conditions, fragile ecosystems, conditions of the pandemic and post-pandemic periods, price volatility, and the growing importance of the environmental factor require that the process of developing the Arctic’s hydrocarbon resources should become strategically sustainable. The paper provides a deep literature review on sustainability issues, sustainable development, strategic sustainability, and project efficiency in the Arctic offshore oil and gas sector. The paper analyzes the trends and conditions that substantiate the need to transform the traditional sustainability concept to meet new challenges and comply with new policies. Based on the analysis, the authors propose a definition of and a conceptual framework for strategic sustainability of oil and gas offshore projects in the Arctic.