Sweden, Finland Urge EU to Tighten Screws on Russian Arctic Shipping With Insurance, Port Bans Sweden and Finland are pushing the EU to toughen sanctions on Russian Arctic shipping, calling for bans on insurance and port repairs for vessels carrying oil, gas and coal. The proposal targets overlooked maritime services seen as vital to keeping Russia’s Arctic energy exports afloat.
Russia to Earn $160bn in Taxes From Northern Sea Route by 2035, Arctic Region Accounts for 7.5 Percent of GDP New government figures highlight the critical role the Arctic plays in Russia’s economy. Projects along the main shipping corridor may generate massive tax revenues over the next decade and account for growing share of the country’s export and GDP.
Alaska Looking to Re-Enter Global LNG Market with Massive $44bn Project The proposed Alaska LNG project has taken its next hurdle with the signing of a development agreement. The $44bn project would see Alaska export up to 20m tonnes of LNG per year starting in 2031.
“If We Stop the Oil, We Stop the War” Arendal (High North News): The EU's sanctions package against Russia has become so extensive that it is nearly impossible not to violate them. "If the purpose is to stop the war in Ukraine, it must be easier for all parties," says Aage Borchgrevink from the Norwegian Helsinki Committee.
Russian Oil Shipments Via Arctic Accelerate With Four More Tankers Now En Route to China Transit traffic on Russia’s Northern Sea Route could reach all-time highs this summer as Russia continues to dispatch crude oil tankers to China via the Arctic. In less than a month six vessels have departed for the country.
Russian Shipyard Zvezda Launches New Arctic Ships for Oil and LNG Transport Construction work at the Zvezda shipyard reached the next milestone with the successful launch of an oil tanker for Rosneft and an LNG carrier for Novatek. Both ships will be used to transport hydrocarbon resources from Russia’s Arctic energy projects.
The War Shall Be Won With Oil and Killers Commentary: Russia is releasing killers from its prisons for them to continue killing. That is happening concurrently as Russian industrial companies are setting historic sales records. War is an absurd place.
Putting a Stop to Oil and Gas Exploration Projects in Norway’s Arctic Regions Norwegian energy giant, Equinor, is pushing for the world’s northernmost offshore oil and gas exploration project in the Barents Sea - a plan that spells bad news for our global climate and Arctic marine ecosystems, Elena F. Tracy and Guro Lystad with the World Wildlife Fund argues in this op-ed.
New Sanctions Hit Hard, EU Wants to Ban Insurance on Russian Oil Tankers New EU sanctions include an embargo on Russian oil. However, a ban on insurance for oil tankers will likely have a much greater impact and raises questions if Russian oil could be shipped across the Arctic without insurance.
New Sanctions Hit Hard, EU Wants to Ban Insurance on Russian Oil Tankers New EU sanctions include an embargo on Russian oil. However, a ban on insurance for oil tankers will likely have a much greater impact and raises questions if Russian oil could be shipped across the Arctic without insurance.
Finland Releases 369,000 Barrels of Crude Oil to the Market From Emergency Stockpiles This collective action helps to provide stability to the oil market as Russia’s invasion of Ukraine continues.
Alaska Agency Commits to More Spending on Arctic Refuge Oil Plans The Alaska Industrial Development and Export Authority approved about $3.6 million in second-year lease costs.
The AEC on the EU Arctic Policy: “Leave Arctic Business to the People who Live Here” Icelandic investor and Deputy Chair of the Arctic Economic Council, Heidar Gudjonsson, told the EU to mind its own business – or territory – regarding the EUs new Arctic Policy.
US Federal Judge Stops Approval of New Oil Project in Alaska Alaska District Court Judge Sharon Gleason overturned the approval of ConocoPhillips' Willow project in the National Petroleum Reserve in Alaska.
Saudi Arabia Looks to Enter Arctic LNG With Large Investment The world’s largest oil company Saudi Aramco aims to acquire large stake in Novatek’s Arctic LNG 2 project. Large Russian energy developments supported by China and now likely Saudi Arabia will continue to impact Norway.
