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

Shapovalova, Daria; Galimullin, Eduard; Grushevenko, Ekaterina

doi:10.1016/j.enpol.2020.111753

Cited by 21 publications

(12 citation statements)

References 31 publications

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“…Register of processes accompanying the implementation of oil and gas projects in the Arctic (created by the authors, based on [11,12,18,25,27,35,[38][39][40][41][42][43][44][45][46][47][48][49][50][51][52][53][54][55][74][75][76][77][78]).…”

Section: Tablementioning

confidence: 99%

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Energy Resources Exploitation in the Russian Arctic: Challenges and Prospects for the Sustainable Development of the Ecosystem

Romasheva

Dmitrieva

2021

Energies

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According to the forecasts made by IEA, BP, and Total in early 2021, the demand for hydrocarbons will continue for decades, and their share in the global energy balance will remain significant. Russia, as a key player in the energy market, is interested in maintaining and increasing hydrocarbon production, so further exploitation of the Arctic energy resources is an urgent issue. A large number of onshore oil and gas projects have been successfully implemented in the Arctic since the 1930s, while recently, special attention has been paid to the offshore energy resources and implementation of natural gas liquefaction projects. However, the implementation of oil and gas projects in the Arctic is characterized by a negative impact on the environment, which leads to a violation of the ecological balance in the Arctic, and affects the stability of its ecosystem, which is one of the most vulnerable ecosystems on the planet. The main goal of the present study is to understand how the implementation of oil and gas projects in the Arctic affects the ecosystem, to assess the significance of this process, and to find out what the state and business could do to minimize it. In the article, the authors analyze energy trends, provide brief information about important oil and gas projects being implemented in the Arctic region of Russia, and investigate the challenges of the oil and gas projects’ development and its negative impacts on the Arctic environment. The main contributions of this paper are the identification of all possible environmental risks and processes accompanying oil and gas production, and its qualitative analysis and recommendations for the state and business to reduce the negative impact of oil and gas projects on the Arctic ecosystem. The research methodology includes desk studies, risk management tools (such as risk analysis, registers, and maps), brainstorming, the expert method, systematization, comparative analysis, generalization, and grouping.

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Section: Tablementioning

confidence: 99%

“…Problems of development of hydrocarbon deposits in the Arctic (created by the authors, based on[24,27,[74][75][76][77][78]). …”

mentioning

confidence: 99%

Energy Resources Exploitation in the Russian Arctic: Challenges and Prospects for the Sustainable Development of the Ecosystem

Romasheva

Dmitrieva

2021

Energies

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“…Economic sanctions, which are one of the most common tactics used in international conflicts, can significantly affect global energy supply chains by threatening the energy supply from energy-exporting countries [51,52]. The US economic sanctions on Iran restricted and hindered various crossboundary economic activities, such as energy trade, the purchase of production equipment and technology transfer, which reduced Iran's energy production and decreased the energy supply to the global market [53]. At the same time, freezing the financial assets disrupted energy investments and other cooperation actions between Iran and its trading partners, which also reduced Iran's production capacity [54].…”

Section: Diagnosing the Impact Mechanismsmentioning

confidence: 99%

How Do International Conflicts Impact China’s Energy Security and Economic Growth? A Case Study of the US Economic Sanctions on Iran

Cui

2021

Sustainability

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International conflicts cause global energy price fluctuations and supply disruptions, which can threaten energy security and economic growth in energy-importing countries, including China. However, the implications and impact mechanisms of international conflicts on the energy security and economy of oil-importing countries have been poorly explored. Using US economic sanctions on Iran as a case, a global energy-extended computable general equilibrium model, GTAP-E, is employed to assess the impacts of international conflicts on China’s energy production, trade and supply, sectoral outputs, and economic growth. The results indicate that the USA–Iran tension would threaten China’s energy security, mainly due to the instability of the energy supply and the consequent upsurge of energy prices. However, if increased oil exports from other Persian Gulf countries compensate for the global oil supply shortages, China’s energy supply would be generally assured. Moreover, because of the close energy cooperation links between Iran and China, the sanctions could decrease the Chinese outputs of non-energy sectors and economic growth. Nevertheless, compared with sole-sanction situations, the results from a possible USA–Iran tension escalation, going as far as Iran’s closure of the Hormuz Strait, could pose a more serious risk to China’s energy security and economic growth.

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“…For instance, Royal Dutch Shell announced the termination of its expensive Arctic program (around $7 billion of investment over a period of nine years) in 2015 [9]. The Russian oil and gas industry, in addition to the unfavorable pricing trends, came under the influence of the U.S. and EU sanctions [10][11][12], which had a major negative impact on Russian oil and gas projects including Arctic ones, because many of them were planned in cooperation with foreign companies. In 2016, Russia introduced a moratorium on issuing new licenses to companies that planned to operate offshore in the Arctic.…”

Section: Introductionmentioning

confidence: 99%

“…We studied global megatrends in the energy sector and the influence of the COVID-19 pandemic on the oil and gas industry [19][20][21][22][37][38][39][40][41], and present the results of this analysis in Section 3.2. We also studied the current hydrocarbon agenda [11,12,17,18,42,43] and tried to take into account all modern trends.…”

Section: Introductionmentioning

confidence: 99%

The Future of Energy and the Case of the Arctic Offshore: The Role of Strategic Management

Carayannis

Ilinova

Cherepovitsyn

2021

JMSE

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As risk and uncertainty factors have become more prominent in the already volatile energy market because of the COVID-19 pandemic, the development of Arctic hydrocarbon resources has become a debatable issue. At any rate, oil and gas companies need to improve their strategic management systems (along with the development of technologies) for the successful implementation of such complex projects. The purpose of this study was to propose the conceptual basis for transforming strategic management and planning systems of oil and gas companies so that they can successfully face global challenges when implementing offshore oil and gas projects in the Arctic as well as provide more sustainable energy sources. The article discusses the current situation with Arctic initiatives and the results of an analysis of price instability in the energy sector, along with an analysis of several megatrends affecting oil and gas companies. All this allows for presenting a conceptual vision of how a strategic management system should be transformed in order to become able to meet the requirements for implementing Arctic projects, with the emphasis being placed on sustainability, management requirements, and the key principles. The research is based on the fundamentals of strategic management and strategic planning and relies on methods such as desk study, content analysis, event analysis, comparative analysis, and factor analysis.

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

Cited by 21 publications

References 31 publications

Energy Resources Exploitation in the Russian Arctic: Challenges and Prospects for the Sustainable Development of the Ecosystem

Energy Resources Exploitation in the Russian Arctic: Challenges and Prospects for the Sustainable Development of the Ecosystem

How Do International Conflicts Impact China’s Energy Security and Economic Growth? A Case Study of the US Economic Sanctions on Iran

The Future of Energy and the Case of the Arctic Offshore: The Role of Strategic Management

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