Production-sharing agreements should be used more extensively in developing gas fields, according to Viktor Borodai, the deputy chairman of the Duma Committee for Federal Affairs and Regional Policy. Borodai was speaking yesterday at the international 'Production-sharing agreement 2002: from legislation to investment' conference in Moscow. He drew attention to the fact that there are currently three investment projects being carried out in Russia under production-sharing agreements, including two on the Okhotsk Sea shelf and one in the Nenets Autonomous District. Total investment in these projects has already reached USD 4 billion.
Borodai stated that the investment needs of Russia's gas sector are twice as high as those of the oil sector. The Duma deputy calculates that by 2020 Russia will require 660 billion cubic metres of gas annually, a 20-25% rise on today. In order to achieve such a high level of gas production, he believes that USD 180 billion of investment will be required in the sector by 2020. In Borodai's opinion such large sums can only be attracted with the help of production-sharing agreements. He also stressed that in order to attract investors it is necessary to give them access to gas pipelines, which will require amendments to the law 'On major pipelines'.
Putin's official spokesman Dmitry Peskov commented on remarks in the US media about failures in launching nuclear-capable missiles in Russia
The Buk system that shot down MH17 belonged to the 53rd SAM missile brigade of the Russian Ministry of Defense, investigators say after looking at a few pictures on the net
It has long been understood that the West has been trying to subject Russian borders to total control. We have not seen such activity even during the Cold War