China and Russia look to collaborate on Arctic offshore projects

China and Russia look to collaborate on Arctic offshore projects

Russia’s energy giant Rosneft is in talks with Chinese companies to allow them to take part in its offshore Arctic projects, Russian Deputy Energy Minister Anatoly Yanovsky said on Monday according to Reuters.

Rosneft suspended drilling in Arctic Kara Sea in 2014 after ExxonMobil withdrew from the project due to Western sanctions against Russia.

China’s state-run shipping giant Cosco Group is also considering routine navigation through Arctic waters as a short cut linking China and Europe.  The company’s Yong Sheng vessel completed its second round trip Arctic voyage between China and Europe in October.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts