Experts from the Institute of Business Process Management and Economics of the Siberian Federal University presented their research on the monitoring system of threats to the energy security in the Arctic regions. It was presented by Senior Lecturer Tatyana Burmenko and Assistant Professor Irina Ruiga at the Arctic Science Summit Week 2020 held online in Akureyri, Iceland, on March 7 — April 2, 2020.

The prospective development of the Arctic considering its geographic traits is becoming impossible without the use of different energy sources, and the energy security of the region is one of the most important components of the economic, socioeconomic and environmental stability in Russia.

According to the experts, the assessment of the current state of the regional energy security is based on a wide range of various parameters as well as economic and mathematical models.

"The possible use of the Arctic natural resources encouraged companies from non-Arctic countries to invest into raw materials production projects and the development of the Northern Sea Route's infrastructure thus increasing the volume of shipping along the Northern Sea Route from the east to the west. The interconnection between the indicators of the region's socioeconomic development and the level of energy security is interpreted as especially strong, because it helps to increase the level of the socioeconomic development. The analysis of the acquired data shows the regions with the highest and the lowest indicators of the socioeconomic development and energy security as well as provides recommendations on how to improve them," Tatyana Burmenko explained.

The results of the research will also be presented at the Arctic Observing Summit (AOS). AOS is a biennial international forum aimed at getting recommendations on how to design, implement, coordinate and use a sustainable and durable international monitoring system in the Arctic.