IMG_0327Iceland will seek cooperation with Russia t develop its geothermal energy projects. Vastly resources of geothermal resources in Iceland are being utilized but the next steps are somewhat unclear.

Dr. Ólafur Ragnar Grímsson, president of Iceland, said this in Arkhangelsk yesterday at the second international forum The Arctic: Territory of Dialogue.

"Even ten years ago no one in Iceland could imagine that we would need assistance while developing Arctic natural resources. But the time has come and we have needed such help from an economic and environmental point of view," adding that Iceland also needed help from foreign companies to develop Arctic resources, including Russia.

Russian Prime Minister Vladimir Putin, who met with Grímsson at the forum, said that Moscow had specific ideas on the issues of joint energy projects.

President Grímsson also said that development of Russian-Iceland commercial navigation could be feasible, transport terminals (sea-ports and airports), and corridors like the Northern Sea Route, which could transform Russia's ability to ship natural resources to the markets of Asia.

"Our geographical position in North Atlantic gives us unique possibilities, and we would like to use them for a constructive dialogue with Russia," Grímsson added.

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