Murmansk Oblast is Russia's northwesternmost federal subject, located along the border to Norway and Finland. It is a key Russian region within fisheries, mining and metallurgy and the Armed Forces.
The region is located along coast of the Barents Sea and is expected to become a new oil and gas centre as offshore hydrocarbon resources are developed in the Russian part of the Barents Sea.
The region has a population of about 850,000, of which about 85 percent are ethnically Russian. Out-migration from the region has been considerable over the last 20 years.
The economy of Murmansk Oblast is heavily export-oriented. The region is closely engaged in international cooperation, first of all as key stakeholder in the Barents Euro-Arctic Cooperation.
150 billion RUB for port development
More than 150 billion RUB (3.4 billion EUR) will be invested in the development of the Murmansk Port, regional governor Dmitry Dmitriyenko said Monday. The investments will help boost goods turnover to 100 million tons per year.
Speaking to journalists in a press conference devoted to the Murmansk Economic Forum yesterday, Governor Dmitriyenko said annual goods turnover will be increased fourfold from 25 to 100 million tons.
Of the 150 billion RUB, 60 billion will be federal money, he said. That includes first of all harbor installations, hydro-technical equipment and navigation equipment, as well as railway infrastructure, he said.
The port and infrastructure developments in Murmansk will take place on the backdrop of the grand development of the Shtokman field in the Barents Sea.
Of the 150 billion RUB, 60 billion will be federal money, he said. That includes first of all harbor installations, hydro-technical equipment and navigation equipment, as well as railway infrastructure, he said.
The port and infrastructure developments in Murmansk will take place on the backdrop of the grand development of the Shtokman field in the Barents Sea.
