State support can ensure returns for Russian offshore mineral development projects - presidential aide Patrushev

NARYAN-MAR. May 15 (Interfax) - Flexible state support could be a way to ensure returns for projects to develop offshore and deep water mineral deposits, said Nikolai Patrushev, Russian presidential aide and head of the Maritime Board.

"Offshore and deep water mineral development projects are capital-intensive. Rising costs could make them unprofitable. So it is important to ensure a stable tax system and flexible state support for the development of these fields," he said at a meeting of the Maritime Board's Council for the Development and Support of Marine Activities.

Patrushev also said Arctic offshore projects would provide cargo for shipments along the Trans-Arctic Transport Corridor. "As we implement the comprehensive project for the Development of Russian the Arctic Zone and the Trans-Arctic Transport Corridor we will put the necessary logistics and infrastructure in place to ensure that resources extracted can be transported," he said.

The comprehensive project will include investment projects to build oil tankers and gas carriers, as well as measures to develop coastal supply bases and repair docks.

"In addition, projects will be carried out to ensure environmental safety, primarily by increasing the readiness of emergency resources to respond to oil spills in icy conditions," Patrushev said.