Prospects for the Development of the Oil and Gas Sector of the Economy of the Chukotka Autonomous Area

• Published in: Administrative consulting
• Main Author: A. G. Kazanin
• Format: Article in Journal/Newspaper
• Language: English; Russian
• Published: North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration 2019
• Subjects: chukotka autonomous area; oil and gas sector; oil production; gas production; bering sea; arctic continental shelf; offshore hydrocarbon fields; Political institutions and public administration (General); JF20-2112; Arctic; Bering Sea; Chukotka
• Online Access: https://doi.org/10.22394/1726-1139-2019-9-71-74; https://doaj.org/article/5f666318df0d4b1689cf49814db79809

Although the mining industry is the main driver of economic development in the Chukotka Autonomous Area, non-ferrous metals (gold, copper) are playing the leading roles here, coal mining plays an important role. Gas production in the current strategy of socio-economic development of the Chukotka Autonomous Area until 2030 is given a marginal role, and oil production is completely silent. Meanwhile, the region is beginning to pay more attention to the development of these areas. The article analyzes the strategy view on the oil and gas industry of the Chukotka Autonomous Area; identified serious shortcomings of the model, which did not allow to fully assess the potential of the industry. Proposals are presented for adjusting the Strategy to the objectives and priorities of the federal energy policy.