https://en.sputniknews.africa/20231110/russian-energy-projects-in-arctic-arouse-interest-of-brics-countries-1063457453.html
Russian Energy Projects in Arctic Arouse Interest of BRICS Countries
Russian Energy Projects in Arctic Arouse Interest of BRICS Countries
Sputnik Africa
The Russian city of St. Petersburg hosts the 5th edition of the International Municipal BRICS+ Forum on November 9-10. The goal of the forum is "the... 10.11.2023, Sputnik Africa
2023-11-10T18:23+0100
2023-11-10T18:23+0100
2023-11-10T18:23+0100
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India, China and Brazil are interested in Russian projects in the Arctic, including those related to liquefied natural gas (LNG) production, a representative of the Arctic Council, Nikolay Korchunov, said during an international meeting BRICS+ Forum in Saint Petersburg.According to Korchunov, these countries consider it important to develop navigation in the region, the exploration of natural resources and use the knowledge that Russia has in this field.He explained that Russia's experience could be used to develop similar subsidiaries in India and China. Last year, trade with India tripled and increased by almost 40% with China. According to Korchunov, the demand for mineral resources and raw materials has increased significantly in the Arctic region.In October, Russian President Vladimir Putin announced that the country has extended an invitation to countries interested in collaborating on the development of the North Sea Route. The aim is to ensure dependable ice navigation, communication and supply in the region. Russia's Arctic zone accounts for one-fifth of federal budget revenues.The Arctic Zone of Russia is the northern part of Russia by the Arctic Ocean seas: Barents, Kara, Laptev, East Siberian, and Chukchi. It is Russia's longest maritime border. Russia aims to transform the Northern Sea Route into a significant global trade route as Arctic temperatures increase. US SanctionsThe Biden administration last week imposed sanctions on the Russian LNG-2 project in the Arctic as part of wide-ranging measures aimed at punishing Moscow for the conflict in Ukraine.Undersecretary of State for Energy Resources Geoffrey Pyatt told a Senate Foreign Relations Committee hearing that the United States wanted to stop the project's development. Last year, Russia became the most sanctioned country in the world, with more than 15,000 sanctions imposed by the US and its allies over the past year and a half. The restrictions have targeted the country's exports of energy, food and fertilizer, as well as its imports of high-tech products and various manufactured goods.
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Russian Energy Projects in Arctic Arouse Interest of BRICS Countries
The Russian city of St. Petersburg hosts the 5th edition of the International Municipal BRICS+ Forum on November 9-10. The goal of the forum is "the development of social and economic well-being of municipal territories and the introduction of innovative technologies in the daily activities of major cities in developing countries."
India, China and Brazil are interested in Russian projects in the Arctic, including those related to liquefied natural gas (LNG) production, a representative of the Arctic Council, Nikolay Korchunov, said during an international meeting BRICS+ Forum in Saint Petersburg.
According to Korchunov, these countries consider it important to develop navigation in the region, the exploration of natural resources and use the knowledge that Russia has in this field.
"Within the framework of the BRICS, the main core is the working group for polar and oceanographic cooperation. These countries show interest not only in raw materials, but also in the development of transport in the region, navigation and construction naval," he stated.
He explained that Russia's experience could be used to develop similar subsidiaries in India and China.
"Interest is growing in the Northern Sea Route and in projects like Yamal LNG and Arctic LNG-2 in which China is involved. As far as India is concerned, it is interested in the last two projects," Korchunov added.
Last year, trade with India tripled and increased by almost 40% with China. According to Korchunov, the demand for mineral resources and raw materials has increased significantly in the Arctic region.
In October, Russian President Vladimir Putin announced that the country has extended an invitation to countries interested in
collaborating on the development of the North Sea Route. The aim is to ensure dependable ice navigation, communication and supply in the region. Russia's Arctic zone accounts for one-fifth of federal budget revenues.
The Arctic Zone of Russia is the northern part of Russia by the Arctic Ocean seas: Barents, Kara, Laptev, East Siberian, and Chukchi. It is Russia's longest maritime border. Russia aims to transform the Northern Sea Route into a significant global trade route as Arctic temperatures increase.
The Biden administration last week imposed sanctions on the Russian LNG-2 project in the Arctic as part of wide-ranging measures aimed at punishing Moscow for the conflict in
Ukraine.
Undersecretary of State for Energy Resources Geoffrey Pyatt told a Senate Foreign Relations Committee hearing that the United States wanted to stop the project's development.
"Last week, for example, we imposed new
sanctions against a project in the Arctic, Arctic LNG 2. Our goal is to kill this project," he said.
Last year, Russia became the most sanctioned country in the world, with more than 15,000 sanctions imposed by the US and its allies over the past year and a half. The restrictions have targeted the country's exports of energy, food and fertilizer, as well as its imports of high-tech products and various manufactured goods.
