Russia sends first shipment of Liquefied Natural Gas through the Arctic “Northern Silk Road”.
This year, Russia shipped its first shipment of liquefied natural gas via the Northern Sea Route (NSR) to the Arctic aboard the vessel Fedor Litke. The tanker was loaded at the Yamal LNG plant in the north of the country.
Bloomberg ship tracking data shows that the Fedor Litke was loaded on June 3 and is underway on her first observed voyage to Asia this year.
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Western sanctions on energy have prompted Russia to sail oil tankers east across the Arctic Circle to China – a shipping route dubbed the "Arctic Silk Road". This route is reshaping global energy flows, as it now takes a Russian tanker half the time to get to Asia, instead of following the conventional route through the Suez Canal.
Even before the war in Ukraine and the ensuing sanctions on Moscow, trade flows were already starting to shift towards the NSR.
As early as 2017 it was known that the Arctic route could become strategic in trade between China and Russia, a new Silk Road,
In 2019 Visual Capitalist Nicholas LePan released a map of all critical routes and resources in the Arctic.
Russia, owner of the largest fleet of icebreakers in the world, can ply the waters of the Arctic, clearing the way for ships to cross the northern routes and making this route perfectly passable.
We recently quoted Minister of National Resources and Environment Dmitry Kobylkin, who said that cargo transportation in Russia's northernmost territorial waters will reach 80 million tons as early as 2024.
Global trade flows are shifting with the emergence of a multipolar world. Western sanctions have so far failed to paralyze Moscow, while energy flows are being diverted from Europe to Asia, especially those coming from Russia.
We suspect this won't be the last tanker to sail the Northern Silk Route, we're sure of it. .
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The article Russia sends the first shipment of Liquefied Natural Gas through the Arctic “Northern Silk Road” comes from Scenari Economici .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-russia-manda-il-primo-carico-di-gas-naturale-liquefatto-attraverso-la-via-della-seta-del-nord-artica/ on Tue, 06 Jun 2023 20:12:31 +0000.