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Vol 161
Pages:
61-63
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RUS

Concession forms of state property management in the sphere of subsoil use - a prospect for the development of resource industries in Russia

Authors:
S. A. Tertyshnyi
About authors
  • G.V. Plekhanov Saint Petersburg Mining Institute
Date submitted:
2004-08-24
Date accepted:
2004-09-01
Date published:
2005-05-20

Abstract

Radical changes in economic conditions in Russia have led to the need to attract large investments in long-term projects for the development of new fields. This should have been facilitated by the law "On Production Sharing Agreements". However, the mechanism proposed in the law did not ensure a balance between the interests of the state (the owner of subsoil resources) and investors in the implementation of capital-intensive projects in the sphere of subsoil use. A positive contribution to the formation of a truly effective mechanism of subsoil use could be made by the development and adoption of legislation on concessions. This would allow not only to attract investors, but also to ensure the development of regional economies on the basis of new technologies.

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