The bill on the continental shelf in the Arctic needs to be reconsidered, said Kobylkin

The bill of Ministry for the liberalization of access to mining on the continental shelf in the Russian Arctic needs substantial study, and speak about the creation of a consortium of subsoil users prematurely, said in an interview with RIA Novosti the head of the Ministry Dmitry Kobylkin.

The ninth of June on the portal of projects of normative legal acts published a draft law prepared by the Ministry, which aims to liberalize access to the shelf of the Arctic and the Pacific ocean from 2021, to be allowed to work for both Russian and foreign companies. However, it is proposed to determine the company agent that will work on behalf of the government, in consortium with other companies wishing to develop offshore areas and to have a blocking stake in the consortium.

An agent of the government of the Russian Federation can be carried out by the organization, 100% of whose shares belong to the Russian Federation, the Institute of development of the Far East and the Arctic, or who are the organization's sole shareholder is VNESHECONOMBANK, the document says. As a candidate proposed FRD.

Previously the idea to create a state operator to increase the access of private investors to the Arctic shelf has proposed to Russian President Vladimir Putin, Vice-Premier, the Plenipotentiary of the President in the far Eastern Federal district Yuri Trutnev. Now the license on the shelf can get only the structure of "Rosneft" and "Gazprom", which may attract a minority of private players, including foreigners. The initiative of Deputy Prime Minister suggested the possibility of private companies to enter into a consortium with "Rossella". However, in may it was reported that the establishment of "Rosshelf" is postponed due to changes in the situation on world markets in connection with the spread of the coronavirus.