Part 3/6:
The geopolitical implications extend beyond trade efficiency. The Arctic is rich in untapped natural resources, particularly oil and natural gas, which heightens competition and tension among the nations vying for control. Russia, with its extensive Arctic coastline, is aggressively pursuing energy development in the region.
One notable project on the horizon is the Arctic LNG 2 facility, which is set to launch shortly after months of delays. This facility is critical for Russia, as it represents a significant step in its energy ambitions amidst ongoing tensions with the West. A shadow fleet LNG carrier is poised to begin operations, marking the start of liquefied natural gas (LNG) exports from this vital energy hub.