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Russian Interests in Oil and Gas Resources in the Barents Sea
The paper examines Russian interests in Barents Sea oil and gas, using the Shtokman field as a case study. It argues that turning hydrocarbon deposits into resources requires a supportive societal context, including technology, markets, and legal frameworks. The analysis highlights the tension between the Russian state's geopolitical goals and the commercial viability concerns of companies like Gazprom and foreign partners. Ultimately, the Shtokman project was postponed indefinitely due to high costs, falling European demand, and competition from North American shale gas.
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Document type: Research paper