Gazprom to find more promising and less labour-intensive projects than the development of Black Sea’s shelf

Igor Yushkov, the leading analyst of the Fund of National Energy Security:

I think, Gazprom will find more promising and less labour-intensive projects and will just supply gas via pipeline to the Crimea. If the conflict is settled and there are no sanctions, a gas pipeline will be constructed through the Kerch Strait. But Gazprom is unlikely to hurry with the development. Oil and gas fields are located on the Crimean shelf, state-owned companies will be able to develop them and this is a plus for Russia. But in fact, this is a great burden for companies, it will demand a change in investment programs and significant expenses. Gazprom has enough licenses for fields without the Crimean shelf as it is, so doesn’t have to develop these sites. The Crimean shelf is most likely to become another “frozen” project.