In an effort to enhance northern oil and gas fields and boost Arctic shipping, Sovcomflot and NOVATEK entered into long-term charter agreements so as to build 14 Arc7 ice-class LNG tankers.
The COVID-19 pandemic affected the Russian economy in February, when production in China dropped and oil consumption seriously decreased.
Investigators from Russia detained three managers of an Arctic power station linked to the huge fuel spill that polluted the area about a month ago, as wind, rain and cold impacted the clean-up operations.
European gas inventories have reached record levels, amid a week demand which has caused excess gas moving into storage, putting pressure on producers to cut supply.
Due to the rising freight charges and reduced capacities because of the COVID-19 pandemic, freight traffic in Russia is severely restricted. However, its seaports have reported positive cargo handling.
Two Russian companies joined forces on Thursday, April 23, for the construction of the world’s most powerful nuclear icebreaker, in their efforts to improve trade though the Northern Sea Route (NSR).
Russia has set out a long-term, low carbon development plan spanning on the next three decades. According to the plan, Russia will reduce GHG emissions by a third by 2030 from 1990 levels.
Following the majority of the countries worldwide, Russia issued guidelines on how its shipping sector is dealing with the COVID-19 pandemic.
Rystad Energy estimated that the extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), while OPEC+ countries are able to add next month 2 million bpd, according to their storage, spare capacity and ramp up capabilities.
Saudi Arabia increases efforts to send Russia’s Urals oil grade out of its markets as it offers its own cheap barrels, as the two countries’ deal to support global oil prices fell apart.
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- Green Shipping
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