Arctic regions development for ensuring economic security of the Russian Federation

Against the backdrop of the financial and economic crisis of 2014, which caused anumber of consequences for Russia’s economic security, the development of the Arcticshelf in the required volume is a strategic task of the country’s development. The needto monitor further benefits and the current state of development of hydrocarbondevelopment projects is explained by the ability to expand Russia’s presence in energymarkets, the economy as a whole and the energy sector. Based on the example of theMurmansk region, which is dynamically developing in the industrial sector of theeconomy, it is fully part of the Arctic zone of the Russian Federation and belongs to thehighly urbanized regions of Russia, monitoring of the main trends in the developmentof the Arctic, including key regions in the long-term development of hydrocarbondeposits. The aim of the study is to identify the factors that impede the developmentof the Arctic and its contribution to the energy industry in Russia. Based on theconducted studies, it was possible to identify the main problems and prospects forthe economic development of the Arctic region’s potential in the Murmansk region inthe long term; to suggest ways to optimize the factors constraining the developmentof projects on the development of the Arctic shelf.