Prospects for the Development of the Oil and Gas Sector of the Economy of the Chukotka Autonomous Area

Abstract

Although the mining industry is the main driver of economic development in the Chukotka Autonomous Area, non-ferrous metals (gold, copper) are playing the leading roles here, coal mining plays an important role. Gas production in the current strategy of socio-economic development of the Chukotka Autonomous Area until 2030 is given a marginal role, and oil production is completely silent. Meanwhile, the region is beginning to pay more attention to the development of these areas. The article analyzes the strategy view on the oil and gas industry of the Chukotka Autonomous Area; identified serious shortcomings of the model, which did not allow to fully assess the potential of the industry. Proposals are presented for adjusting the Strategy to the objectives and priorities of the federal energy policy.