Tag: deal

  • Barents Sea Border deal to be Approved

    Barents Sea Border deal to be Approved

    Dmitri Medvedev

    For decades there was a boundary dispute between Norway and Russia, where Norway favored the Median Line and Russia favored a meridian based sector.

    A compromise treaty announced 27th of April 2010 settled the border in the approximate middle of these two stances. The border, which cuts across an area thought to be rich in oil and gas, has been contested for decades. That has left the 175,000 square kilometer big area in the Barents Sea unexploited since the 1970s due to the border dispute.

    Now, Dmitri Medvedev has sent the Treaty to the State Duma just two days after the Norwegian Parliament ratified the Barents Sea border deal. The presidential package of documents pertaining to the Maritime Delimitation in the Barents Sea and Arctic Oceans was Thursday sent over to the Russian Parliament. President Medvedev writes in the documents that the Treaty with Norway creates positive political and legal conditions for deepening cooperation in sectors as fishing and joint exploitation of transboundary petroleum deposits.

    Norway and Russia dispute, map

    The words from the Russian President are similar to the words from the Norwegian parliamentarians debating the deal last Tuesday, underlining the need to speed up the mapping of petroleum resources in the Barents Sea. Foreign Minister Jonas Gahr Støre is stated that the debate in the Norwegian Parliament on the delimitation deal confirms that there is a balanced agreement that will further strengthen the Norwegian-Russian cooperation. Støre signed the delimitation agreement with Russian Foreign Minister Sergei Lavrov in Murmansk last October. The Norwegian Parliament voted unanimously in favour of the maritime delimitation line with Russia.

    With the recommendations from President Medvedev, and earlier strong support from Prime Minister Vladimir Putin, it is believed that the State Duma will ratify the Treaty sometime soon. The date for debate is not yet announced, but President Medvedev writes in his notes to the State Duma that the ratification of the Treaty should in the accordance with arrangements reached at the highest level be synchronised in both countries parliaments.

    Russian Minster Vladimir Putin has said that the deal will strengthen the spirit of trust in the Arctic region, create additional opportunities for the development of joint economic projects, for a responsible and environmentally safe development of the natural riches of the Arctic.
    The agreement splits disputed area into two equally big parts and clarifies the maritime borders between Norway and Russia in the Barents Sea and Arctic Oceans.

    Source: Barents Observer

  • Historical border deal between Russia and Norway

    Historical border deal between Russia and Norway

    Stoltenberg and Medvedjev shake hands

    A historical deal between Russia and Norway was signed yesterday by president of  Medvedev of Russia and Norwegian Prime minister Stoltenberg.

    The treaty resolves what has been for several decades the most important outstanding issue betweem Norway and Russia. The disagreement was about the maritime boundary between Norway and Russia in the Barents Sea and the Arctic Ocean and has largely kept the two nations from utilizing natural resources in the area, and both nations can be expected to start looking into oil and gas exploration within the area now once the deal has been signed.

    The agreement signifies the strengthening cooperation between the two nations which have gradually increasing over the last 20 years. Prime minister Stoltenberg said in an interview with the Barrentsobserver that ” Norway and Russia have developed a broad cooperation in the north consisting of organization, cultural workers, businesses, educational- and research institutions etc.” and he higlighted the importance of every-day contact over the borders.

    After the signing of the agreement the two heads of state continued discussing the possible within the energy sphere. Were both parties have aspirations for future co-operation