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  Wednesday, June 26, 2019
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German Gref has come out against the establishment of a state company for the development of shelf
Russia's Minister of Economic Development and Trade German Gref has come out against the establishment of a state company for the development of shelf. Speaking at the Thursday meeting of the government during the debate on the Strategy of the Development and Exploration of Hydrocarbon Resources on Continental Shelves till 2020, Gref approved it on the whole. But he separately dwelt on the question of a coordinating body which must regulate the work to explore shelves. In the materials of the Ministry of Natural Resources prepared for the meeting of the government it is proposed to set up a State National Company which will be able to participate in the consortiums for the development of the shelf deposits. In Gref's opinion, "it will be possible to find other methods to concentrate the state efforts without resorting to the establishment of a hypercompany." He holds the view that the task should be accomplished "on the basis of transparency, competitiveness, with the attraction of private investors and with the improvement of the normative base." For his part, Minister of Mineral Resources Yury Trutnev said that the question of setting up an integral state company would still be discussed. "It is not more than a working proposal which must be discussed with the colleagues," he said.
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