Winter LNG transit highlights Arctic’s growing role
Russia is leading the charge to normalise Arctic shipping as the region warms
Arctic waters are becoming increasingly navigable as a result of climate change, and Russia is leading the way in attempting to normalise shipping in high latitude regions. To the west, Canada and the US are already in disagreement over the status of the Northwest Passage. But shipping in the Arctic still poses significant challenges and is likely to remain mostly confined to Russian LNG shipments for now. The Northern Sea Route (NSR) along Russia’s Arctic coast cuts the voyage from Europe to Asia “by more than a third”, according to Russian deputy prime minister Yury Trutnev. A total of 33mn t of cargo, including 18mn t of LNG, was transported via the route in 2020, a fivefold increase in f
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks