Arctic Council Received First Tranche from Russia

By Joseph R. Fonseca
Thursday, July 17, 2014
Total amount of 10 million euros to the Project Support Fund of the Arctic Council, established by the Nordic Environment Finance Corporation

 

Russian Ministry of Finance transferred the first tranche of 5 million euros for implementation of environmental projects of the Arctic Council.

This amount is the first payment of Russia’s financial contribution with the total amount of 10 million euros to the Project Support Fund of the Arctic Council, established by the Nordic Environment Finance Corporation (NEFCO). The funds are to be transferred in two tranches of 5 million euros each in 2014 and 2015, respectively, reports RIA Novosti.

The Fund will use them to eliminate hotbeds of pollution in the Arctic, as well as to reduce atmospheric emissions of harmful substances, including those directly affecting climate change.

‘The arrival of the first contribution from the Russian Federation to the Fund is a significant practical step testifying to Russia’s commitment to tap the potential of international cooperation within the framework of the Arctic Council. This will be Russia’s true contribution to implementation of the Agreement on Cooperation on Marine Oil Pollution Preparedness and Response in the northern seas, signed by the Arctic countries in Kiruna in 2013,’ said the Deputy Head of the Ministry of natural resources Rinat Gizatulin.

The project support tool has been created by the Arctic Council, which brings together eight bordering countries, for funding and joint management of environmental projects in the Arctic area, primarily on the territory of Russia. The Fund’s appointed operator is the Nordic Environment Finance Corporation (Finland).

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

FVF Chenega Completes Sea Trials with MTU Engines

Over the past several months, FVF Chenega, a high-speed car ferry in the Alaska Marine Highway System (AMHS) fleet, was repowered with four new MTU Series 4000 engines.

India to Sign Port Deal with Iran

India to build port in Iran to get more trade with CIS and Gulf India will push ahead this week with plans to build a port in southeast Iran, two sources said,

XPO Acquires Port Trucker Bridge Terminal

XPO Logistics has made a deal to acquire Bridge Terminal Transport (BTT) Services, one of the largest motor carriers serving ports and intermodal facilities in the United States, for $100 million.

Environmental

Steel Cut for Middle East's First LNG Harbor Tug

Drydocks World and Maritime World marked a milestone at the steel cutting ceremony for the Middle East’s first LNG powered harbor tug Elemarateyah. Held in Drydocks

Shell's Arctic Return Faces Hurdle at Seattle Port

Royal Dutch Shell's quest to return to Arctic drilling for the first time in three years could face delays after Seattle ruled that the city's port must apply for

Jotun Reports Boosted Interest in Mesh-Free PFP Coating

Jotachar JF750, the mesh-free Passive Fire Protection (PFP) for all jet fire scenarios, an epoxy coating system for structural steel, has generated industry interest,

News

Austal Delivers Sixth Cape Class Patrol Boat

Austal Limited announced it has delivered Cape Leveque, the sixth of eight Cape Class Patrol Boats being supplied to the Australian Customs and Border Protection Service under a $330 million design,

Targa: Splitter, Terminal with Noble Still Under Consideration

Targa Resources Partners LP is working closely with Noble Group as Asia's biggest commodity trader evaluates whether to move forward a deal to support a Targa-built condensate splitter,

Tampnet, Marlink Partner for Offshore 4G Services

New low latency mobile communication services set to improve support of offshore vessel operations   Marlink and Tampnet have signed a partner agreement for the

Arctic Operations

FVF Chenega Completes Sea Trials with MTU Engines

Over the past several months, FVF Chenega, a high-speed car ferry in the Alaska Marine Highway System (AMHS) fleet, was repowered with four new MTU Series 4000 engines.

Shell's Arctic Return Faces Hurdle at Seattle Port

Royal Dutch Shell's quest to return to Arctic drilling for the first time in three years could face delays after Seattle ruled that the city's port must apply for

Shell Awaits U.S. Nod, Pushes Ahead in Arctic

Royal Dutch Shell is pushing ahead with plans to explore for oil in the Arctic Ocean near Alaska this summer despite opposition from environmental groups. The

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4415 sec (2 req/sec)