China and Russia have agreed to cooperate more deeply in developing Arctic shipping routes amid deteriorating conditions between both countries and the West
. The two countries will jointly develop the Northern Sea Route which spans 5,600km 3,500 miles from the Barents Sea near Scandinavia, Chinese media have reported. Last month, two Chinese heavy-lift vessels key to commissioning the second train arrived off the coast of the sanctioned Russia n Arctic LNG 2 project after a five-week journey through challenging early winter sea ice, Gcaptain reported.
Located in the Gydan Peninsula in the Arctic, the LNG project is considered key to Russia's efforts to boost its global LNG market share from 8% to 20% by 2030-2035. Foreign shareholders have suspended participation in the Arctic LNG 2 project after the Biden administration imposed the new sanctions against the project in 2023, effectively withdrawing from the financing of the project and for offtake contracts for the new plant. The sanctions are part of the measures implemented by the U.S.
China Shipping Arctic Northern Shipping Route
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