🔹Nov. 05th '24 - The USA 🇺🇸 has imposed more sanctions on the development of Russia's Novatek PJSC’s Arctic LNG 2 project and its shipment of liquefied natural gas (LNG), as well as other future energy projects. The sanctioned companies and individuals targeted are mainly in Russia 🇷🇺, China🇨🇳, Hong Kong🇭🇰, the United Arab Emirates🇦🇪, Türkiye🇹🇷, Thailand🇹🇭, Malaysia 🇲🇾 and Switzerland 🇨🇭. Despite sanctions, Arctic LNG 2 is planning to produce the first LNG from its second train in early December.
🔹Russia plans to arrange ship-to-ship transfers of LNG and gas condensate in the Barents and Bering Seas to free up more ice-class tankers for its biggest LNG producer, Novatek.
🔹China's heavy lift ship Ocean28, without ice-class has been granted permission to sail through the remote Arctic waters to Utrenny. During October only one nuclear powered icebreaker operated along the eastern part of the Northern Sea Route (NSR) as more icebreakers is required.
🔹Russia has shortlisted Indian 🇮🇳 shipyards to build four non-nuclear icebreaker ships. The project will significantly boost India’s shipbuilding capabilities and enhance maritime ties between India and Russia, strengthening bilateral relations. An MoU has been drafted between the Indian and Russian gov'ts for the development of cooperation in cargo shipping through the NSR.
🔹US sanctions on Russia's Arctic LNG-2 project threatens US ally, Japan's 🇯🇵 energy-security and economy as Japanese investment was also tied up in the project.
🔹The NSR is reshaping global energy flows as it now takes half the time for a tanker from Russia to arrive in Asia instead of taking the conventional route through the Suez Canal 🇪🇬. Russia wants the NSR, the shortest shipping route between East Asia and Europe, to become a major shipping lane and has invested heavily in infrastructure there.
🔹Russia plans to arrange ship-to-ship transfers of LNG and gas condensate in the Barents and Bering Seas to free up more ice-class tankers for its biggest LNG producer, Novatek.
🔹China's heavy lift ship Ocean28, without ice-class has been granted permission to sail through the remote Arctic waters to Utrenny. During October only one nuclear powered icebreaker operated along the eastern part of the Northern Sea Route (NSR) as more icebreakers is required.
🔹Russia has shortlisted Indian 🇮🇳 shipyards to build four non-nuclear icebreaker ships. The project will significantly boost India’s shipbuilding capabilities and enhance maritime ties between India and Russia, strengthening bilateral relations. An MoU has been drafted between the Indian and Russian gov'ts for the development of cooperation in cargo shipping through the NSR.
🔹US sanctions on Russia's Arctic LNG-2 project threatens US ally, Japan's 🇯🇵 energy-security and economy as Japanese investment was also tied up in the project.
🔹The NSR is reshaping global energy flows as it now takes half the time for a tanker from Russia to arrive in Asia instead of taking the conventional route through the Suez Canal 🇪🇬. Russia wants the NSR, the shortest shipping route between East Asia and Europe, to become a major shipping lane and has invested heavily in infrastructure there.