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Environmental and Economic Damage from the Development of Oil and Gas Fields in the Arctic Shelf of the Russian Federation

M. Kruk, A. Semenov, A. Cherepovitsyn and A. Nikulina

European Research Studies Journal, 2018, vol. XXI, issue Special 2, 423-433

Abstract: The aim of the paper is the development of a technique of assessment of possible ecological and economic damage to air resources during the development of offshore fields for ensuring sustainable development of the Arctic region of Russia. The use of a modified temporary method for determining the prevented environmental damage is proposed to point out the possible environmental and economic damage by Monte Carlo mathematical modelling. After calculations authors made a conclusion about the most rational method for calculating damage from the offshore Arctic oil and gas projects in the water of the Ob-Taz Bay in the Kara Sea. The practical significance of this work is that the proposed methodology can be applied to all oil and gas fields on the Arctic shelf of Russia for measuring potential damages from air pollution as well as soil and water pollution.

Keywords: Sustainable development; mathematical modelling; economic and ecological evaluation; Monte Carlo method; The Ob-Taz Bay. (search for similar items in EconPapers)
JEL-codes: C15 C51 C53 K32 L71 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:ers:journl:v:xxi:y:2018:i:special2:p:423-433