20 May 2022 11:29

Moscow to welcome Chinese partners to new Arctic projects - Foreign Ministry

MOSCOW. May 20 (Interfax) - Russia positively views the role of Chinese companies in Arctic energy projects, including Yamal LNG and Arctic LNG 2, and would welcome Chinese businesses to other regional projects, Russian Foreign Ministry Ambassador at Large Nikolai Korchunov said.

"We positively assess the participation of Chinese companies in energy projects in the Arctic zone of the Russian Federation, including such projects as Yamal LNG and Arctic LNG 2. We would welcome the accession of Chinese partners to other projects in the Russian Arctic, including within the Arctic Council framework," Korchunov said at a press conference on Friday.

He noted the increasing importance of the development of seafaring in the Arctic, especially in the eastern parts of the region, for Russia.

"The development will accelerate in the near future, first and foremost because of the dynamic growth of the Asia Pacific market that is evolving into a real driver of global economic growth. Regarding cooperation with our country, this means a sizable increase in the demand for minerals and raw materials, which play a key role in the global energy transition," Korchunov said.

Further development of northern marine routes, primarily, the Northern Sea Route, plays a big role in the provision of continuous functioning of the global economy and supply chains, he said.

As the Arctic Council's activity has been put on hold, Russia continues to promote regional development, including through constructive interaction with Arctic Council observers, among them China, Korchunov said.

"The potential for deepening Russian-Chinese interaction, including that in the Arctic, derives from the high level of bilateral trade and economic cooperation among other factors. China is the biggest trade partner in terms of both exports and imports, so, naturally, we take this into account in our planning and international cooperation in the high latitudes," he said.

Energy, including carbon-free energy, and projects aimed at developing the Northern Sea Route and related coastal infrastructure could become the most promising areas of Russia-China cooperation, Korchunov said.