Investments in the Arctic by 2024 estimated at RUB 5.5 trillion - Dmity Kobylkin

Total investments in the Arctic by 2024 are estimated at RUB 5.5 trillion, Dmity  Kobylkin, Russian Minister of Natural Resources and Environment, said  at the meeting on the Arctic development chaired by Prime Minister Dmitry Medvedev.

“According to our rough estimate, the existing investment programmes covering the period through 2050 total about RUB 13.5 trillion including RUB 12.6 trillion of non-budget resourses”, said Dmity  Kobylkin.

The Minister emphasized that the Arctic development plans should be protected by environmental standards, obligations undertaken by subsurface users and activities under the national project “Ecology”.