Shelf development requires economical stimulation

Publish date: October 5, 2005

Yury Trutnev, Russian minister of natural resources, says that the process of Shelf development requires economical stimulation and legislation support.

According to the minister, a quarter of the Earth’s shelf territory belongs to Russia, but volume of mineral extraction stands for 1 percent. Trutnev underlined that Russia has just started its geological development of the shelf. These are expensive and long-term projects, RusEnergy reported.

“We must establish a basic for future generations. This problem can’t be solved without a proper financial support,” said the minister.

He also underlined the need in legislation support for Russian companies protection (they are financially weaker that foreign investors), and access to modern technologies for the shelf development.

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