World News

Russia delivers first LNG to China via the Arctic – Reuters — RT Business News

Northern Sea Route cuts shipping times to Asia’s largest economy by 30%

Russian energy giant Gazprom delivered its first cargo of liquefied natural gas (LNG) via the Northern Sea Route (NSR) to China on Thursday, Reuters reported, citing financial information company LSEG, as Moscow seeks expansion using the Arctic corridor in the face of Western sanctions.

The tanker Velikiy Novgorod, loaded with LNG from the Portovaya LNG plant in the Baltic Sea, set sail for China on August 14, data showed. It has now arrived at Tangshan Caofeidian Terminal in Hebei Province.

Russia wants the NSR – which crosses the Arctic Ocean off the country’s northern coast and is the shortest sea route between East Asia and Europe – to become a major shipping route and is investing massively in its infrastructure.

The NSR, presented by Moscow as an alternative to the Suez Canal, already constitutes an international artery in its own right and can be considered as a global transport corridor, according to Alexei Chekounkov, Russian minister responsible for the development of the Far East and the Arctic. .

Northern Sea Route is now a major international shipping artery, minister tells RT

Speaking to RT at the Eastern Economic Forum in Vladivostok on Wednesday, he said much of the world economy depends on the NSR.

“All countries that receive our liquefied natural gas, including those currently considered “hostile”… Shipping intensity will increase several times over the next seven years. » declared the minister.

Although the route through Arctic waters is difficult, using it could shorten the journey by up to two weeks, or about 30 percent, compared to the southern route through the Mediterranean and the Suez Canal.

For more articles on economics and finance, visit RT’s business section

You can share this story on social media:


Back to top button