In the fourth installment of EIRP’s working paper series on Russia’s global energy role, Timur Kulakhmetov assesses Russia’s ambitious Arctic infrastructure and energy plans in the paper: “Cooling Prospects for Russia’s Arctic Development?”
In the paper, Kulakhmetov notes that Russian President Vladimir Putin has emphasized the economic and strategic importance of developing the country’s Arctic region and has continued to do so following Russia’s invasion of Ukraine in February 2022. Rosatom, Russia’s state-owned nuclear energy monopoly, leads the region’s development and operates a fleet of nuclear-powered icebreakers that are central to expanding the nascent Northern Sea Route.
Kulakhmetov concludes that Russia will struggle to meet its ambitious cargo export goals for the Northern Sea Route. In addition to financial and technological challenges—exacerbated by sanctions–Russia’s lack of Arctic-capable oil and LNG tankers will also constrain its energy projects and wider plans to develop the Northern Sea Route.
Read the report here.
“Cooling Prospects for Russia’s Arctic Development?” is the fourth in a series of EIRP working papers on Russian Energy. Earlier working papers covered Russia’s oil sector, Russia’s state nuclear company Rosatom, and the prospects for Russia’s renewable power sector. Subscribe here to stay up-to-date on the latest EIRP news and analysis.