WorldOil Russia’s carbon-dependent economy challenges a clean energy shift Seen from Moscow, the melting of the polar ice cap is as much economic opportunity as natural disaster, opening the Northern Sea Route from Asia to Europe for shipping and creating access to potentially vast new reserves of minerals, oil and gas. Russian bank funds lion’s share of Trafigura’s $7B Rosneft oil deal A Rosneft spokesman said that the deal was “a logical extension” of its cooperation with Trafigura and would give the trading house “long-term access to high quality hydrocarbons to be produced with a low-carbon footprint that can be shipped both to the west and east.” Regional Report: The Arctic In the Arctic Circle, oil and gas interests are often a study of polar opposites. To some it looks like riches; for others, potential ruin. Baker Hughes meets key performance milestone for Novatek’s Arctic LNG 2 project Baker Hughes announced the completion of the First Engine to Test (FETT) for the LM9000 aeroderivative gas turbine. The test took place at the company’s advanced turbomachinery testing facilities in Florence and Massa, Italy. The oil-price war Russia helped create complicates their Arctic plans Oil’s freefall amid a deepening price war and a global pandemic threatens to complicate Russian efforts to turn the Arctic into a major new energy zone. Regional Report: The Arctic Dancing on melting ice Novatek eyes LNG cargo transfers should tanker sanctions last Russia’s biggest liquefied natural gas producer expects to be able to mitigate any impact should U.S. sanctions on China prevent it from using a third of its fleet. McDermott JV awarded fab contract for Arctic LNG 2 Project Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd in Qingdao, China, has been awarded a contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia. Total and partners greenlight Russian Arctic LNG 2 project The project will have a production capacity of 19.8 MM tons per year and is expected to export its first LNG cargo by 2023, the second and third train to start up by 2024 and 2026. TechnipFMC scores $7.6-billion contract for the Arctic LNG 2 project in West Siberia TechnipFMC has been awarded a $7.6-billion EPC contract by Novatek and its partners for the Arctic LNG 2 project located in the Gydan peninsula in West Siberia, Russia.