SHS Web Conf.
Volume 84, 2020First International Scientific Seminar “Circumpolar Studies” 2020
|Number of page(s)||4|
|Section||Sustainable Development of Arctic|
|Published online||10 November 2020|
Development of the Arctic gas industry and prospects for the Russian LNG market in the Asia-Pacific region
PhD (Economics), Associate Professor, Leading Researcher, Editorial Department, G. P. Luzin Institute for Economic Studies of the Kola Science Centre of the RAS, 184209, Fersman st., 14б, Apatity, Russia
* Corresponding author: firstname.lastname@example.org
The article is devoted to the study of the development of the Arctic gas industry and the prospects of LNG sales in the market of the Asia-Pacific region. It is shown that the largest projects for the production of liquefied natural gas in Russia are concentrated in the Yamal-Nenets Autonomous district - “Yamal LNG” and “Arctic LNG - 2”. The growth of economies, partial abandonment of nuclear energy and coal contributes to the growth of natural gas consumption in the countries of the Asia-Pacific region. Japan, China and South Korea remain the largest LNG importers. The analysis showed that South Korea and Japan, despite all efforts to reduce energy consumption, are interested in increasing the volume of purchases of Russian liquefied natural gas. To meet their needs, Japanese companies “Jogmeg” and “Mitsui” purchased a 10% stake in the “Arctic LNG - 2” project for $ 25 billion. China, having concluded a trade agreement with the United States, will try to meet the growing demand for oil and gas through the supply of American energy resources. However, given the decline in the number of operating rigs in the United States, it is not certain that China will not need additional supplies from other exporters.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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