**5. Conclusions**

Turning a strategy into real action requires quantifying the expected results, and thus allowing for evaluation of the effectiveness of the processes being launched. The existing system of strategic managemen<sup>t</sup> of the socio-economic development of the Arctic region is in the process of formation. It has complex goals to ensure a functional approach to the creation of modern industrial complexes in remote Northern territories, linking production opportunities with the solution of social and environmental problems. There is an obvious need to synchronize governmen<sup>t</sup> goals with the production programs of existing industrial systems as well as those that are planned or under development.

Large investment projects initiated on the basis of promising fields are system-forming, participate in solving the problems of integrated spatial development of the Arctic region, generate multiplicative effects for the industry to which they belong, as well as related industries, and stimulate the development of other promising local projects. The specifics of project managemen<sup>t</sup> in relation to standard processes of production and economic activity determine a specific approach to evaluating the effectiveness of decisions made.

Indicators of sustainable socio-economic development of the region will differ from indicators of industrial systems development. This is due primarily to the fact that each project has its own industry affiliation. The corresponding composition of participants who determine the target vector of development and the profile of interaction with the external environment also contribute to this. Secondly, the indicators of regional development characterize, among other things, socio-demographic processes and the state of the ecosystem, which are determined by general regional trends and depend on the pace of development of the Arctic sectors of the economy as a whole. Subsequently, when conducting comprehensive monitoring of the solution of strategic tasks, an indicator assessment of both the socio-economic development of the region and industrial systems is necessary.

The proposed indicator list takes into account the needs of the Arctic region in the context of LNG projects capabilities. At the same time, the variable nature of the indicators should be noted, such as the list of indicators formed in response to the challenges in the state-business society system. These can be adjusted and clarified as the trends in the external and internal environment of the project change.

**Author Contributions:** Conceptualization, A.C.; Methodology O.E. and A.C., Formal Analysis O.E.; List of indicators O.E. and A.C., Writing—Original Draft Preparation O.E.; Supervision A.C. All authors have read and agreed to the published version of the manuscript.

**Funding:** The research was carried out with the financial support of a gran<sup>t</sup> by the President of the Russian Federation for the state support of leading scientific schools of the Russian Federation, the number of the project NSh-2692.2020.5 "Modelling of ecological-balanced and economically sustainable development of hydrocarbon resources of the Arctic".

**Data Availability Statement:** The research is based on open available data. When calculating the projects integrated sustainability indicator (Appendix A, Table 5), data based on expert survey for indicator weighing were used. The calculated values of the projects integrated sustainability indicators (Appendix A, Table 5) and of projects budget efficiency at the regional level (Table 1) are original.

**Conflicts of Interest:** The authors declare no conflict of interest.







**Table 4.** LNG project sustainability indicators list.





**Table 5.** Calculation of integrated sustainability indicators for Arctic LNG projects.

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