Russia Welcomes the Participation of Chinese Companies in New Arctic Projects
The most promising areas of cooperation between the two countries include the energy sector and projects aimed at the development of the North Sea Route (NSR) and coastal infrastructure.20 May 2022
According to the Ambassador-at-Large of the Russian Ministry of Foreign Affairs Nikolay Korchunov, Russia is happy with the role Chinese companies play in energy projects in the Arctic, such as Yamal LNG and Arctic LNG 2, and would welcome the involvement of Chinese businesses in other regional projects. This is reported by the website Arctic.ru.
He also noted the growing importance of Arctic maritime navigation for Russia, especially in the eastern direction.
"In the near future, traffic on this route will continue to increase thanks to the fast-paced development of the Asia-Pacific market, which is becoming a real driver of global economic growth. With regard to Russia, that means a noticeable increase in demand for mineral resources, which are of key importance in the context of the global energy transition," added the Russian diplomat.
According to Nikolay Korchunov, the development of northern sea routes, especially the NSR, plays a major role in the uninterrupted functioning of the world economy and its supply chains.
Korchunov noted that during the current pause in the work of the Arctic Council, Russia continues to develop the region, including through meaningful cooperation with the Arctic Council observer states such as China.
"The prospects for a deeper cooperation between Russia and China, including that in the Arctic region, stem from, among other things, the overall high volume of bilateral trade and economic ties. China is Russia's largest trading partner in terms of both exports and imports. Naturally, we take that into account when planning and engaging in international cooperation at high latitudes," he said.
The ambassador-at-large stressed that the most promising areas of cooperation between Russia and China could include the energy sector, including carbon-free energy, as well as projects aimed at the development of the North Sea Route and the associated coastal infrastructure.