Innovative approaches to environmental management in the development of hydrocarbons in the Arctic shelf

ABSTRACT The paper discusses innovative approaches to the projects implementation in the Arctic shelf of Russia and foreign countries. The authors pay considerable attention to the analysis of developing of hydrocarbon resources in the Arctic zone by the leading world oil and gas powers, which makes it possible to identify the most effective socio-economic approaches to the development of hydrocarbon deposits in the public interest and possible prospects for their use in modern Russian conditions. The article gives a comparative analysis of the models of natural resources development by various states and conclusions on their effectiveness. The authors highlight the existing practical examples of effective environmental management aimed at solving the most important problem – harmonising the interests of economic entities in the Arctic. The paper also addresses issues of interaction between the state and the oil and gas business, the formation of an effective strategy for managing hydrocarbon resources development.