Assessment of Possible Economic Damage by Emergency Oil Spills in the Arctic Shelf Oil Deposit

Alexandra V. Goloveshkina – Master’s Degree Student of the North-West Institute of Management, Russian Presidential Academy of National Economy and Public Administration (Saint-Petersburg, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Anatoly I. Chistobaev – Professor of the North-West Institute of Management, Russian Presidential Academy of National Economy and Public Administration, Doctor of Geographical Sciences (Saint Petersburg, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Validation of existing methods for calculating monetary compensation from environmental pollution is the main purpose of the article. Relevance of the topic is reveals in this article. Current reference documentation and block diagram of calculating monetary compensation process are presented in this work.

Key words: methods assessment, environment, oil spill, Arctic conditions, anthropogenic impact, assessment losses, economic assessment, environmental disruption, spill response.