Cooperation between Russia and China in the Arctic Energy Sector: A Strategic Perspective

The imposed sectoral restrictions on the Russian Federation and the current macroeconomic situation create prerequisites for building a new model of cooperation with Asian countries, primarily with the People’s Republic of China. The People’s Republic of China demonstrates a strategic approach to joint implementation of energy projects in the Arctic, having shares in joint ventures with Russian energy com-panies (Yamal LNG, Arctic LNG-2). Yamal LNG, the most complex technological project in the Arctic for the production of liquefied natural gas (LNG), located on the Yamal Peninsula above the Arctic Circle on the basis of the South Tambeyskoe field, has become the flagship of Russian-Chinese cooperation in the Arctic. The joint implementation of this project has the most important geostrategic and industrial significance in the global energy industry, clearly demonstrating the capabilities of the two countries in creating high-tech solutions for gas liquefaction in difficult climatic conditions. It is important that such projects have powerful complex-forming and multiplicative effects, creating conditions for the maximum utilisation of the industries of both countries, as well as for the construction of infrastructure along the Northern Sea Route and the creation of a high-tech fleet for the transportation of liquefied natural gas. Despite the existing legal disagreements between Russia and China regarding economic activities in the Arctic, in light of the current macroeconomic situation, interaction with Asian partners is a promising area of cooperation in the implementation of joint technological projects. With significant financial resources and accumulated engineering and technical competences, the People’s Republic of China is one of Russia's most reliable partners in the context of implementing energy projects. It is important that China is also a buyer of Russian energy resources, which ensures a stable market for hydrocarbons. The publication analyses the development of Russian-Chinese relations and considers the prospects for joint economic cooperation in the Arctic in the energy sector