International Energy Policy, the Arctic and the Law of the Sea

International Energy Policy, the Arctic and the Law of the Sea

International Energy Policy, the Arctic and the Law of the Sea

International Energy Policy, the Arctic and the Law of the Sea

Synopsis

The economic health of the global economy is directly tied to international energy policies, and none are more important than those of Russia, which is now the world's largest petroleum export nation. At the same time, oil and gas are finite resources and new sources of supply must be found. It is certain that the Arctic will be one of the areas of greatest interest. Wherever the energy resource originates, the law of the sea regime will be critical in the movement from source to market. Thus, this book on International Energy Policy, the Arctic and the Law of the Sea is especially timely. The content is based on presentations made in St. Petersburg, Russia in June, 2004. The perspectives of Russia, China and the United States are discussed in depth by some of the world's foremost authorities. The special significance of the Caspian Sea routes for export and the consequences of the opening of a Northwest Passage due to global warming are among the unique issues covered in this volume.

Excerpt

The Twenty-Eighth Annual Conference sponsored by the Center for Oceans Law and Policy, University of Virginia School of Law was held at the Palace of the Grand Duke Vladimir in St. Petersburg, Russia from June 23–26, 2004. the co-sponsors were the Russian Institute for Ocean Law Studies, Russian Academy of Liberal Arts Education, Russian Humanitarian State University and the Russian Law of the Sea Association. the overall focus of the conference was on Russia's ocean interests with particular reference to international energy policy, the Arctic and the law of the sea.

Payel Dzubenko, Deputy Director, Law Department, Russian Ministry of Foreign Affairs, spoke on Russia's continental shelf limits and the navigation regime in the Arctic. He commented upon Russia's recent submission to the Commission on the Outer Limits of the Continental Shelf and emphasized the importance of freedom of navigation in the Arctic. Professor Kuen-chen Fu of Xiamen University Law School addressed himself to China's growing demand for energy resources, much of which must be supplied from rich offshore oil and gas fields in the region. Among other matters, Dr. Fu reviewed China's 1982 regulations that govern foreign enterprises doing business with the China National Offshore Oil Corporation. Boris A. Smuslov, who holds the Maritime Law Chair, Maritime State Technical University in St. Petersburg, identified many inadequacies in the global fight against terrorism at sea. the Director of the Aberdeen Institute of Coastal Science and Management, William Ritchie, explained the implications of the environmental policy of the “transfer of good practice” in major offshore oil and gas developments. Russia's environmental regulations pertaining to offshore oil exploration were detailed by Richard N. Dean and Michael P. Barry, lawyer and economist respectively for the international law firm, Coudert Brothers llp. the co-authors reviewed the incentives for Russia to further develop its vast energy resources, which must be balanced with the potential harm to the environment. They cited risks posed by tanker accidents, discharge of drilling muds and cuttings, pipeline spills, high energy seismic surveys, and especially sensitive environments. Lastly, Dean and Barry offered three approaches to environmental regulation: public law, multilateral institutions and private contractual arrangements. Professor Paul B. Stephan of the University of Virginia School of Law . . .

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