China, Russia Carriers to Ship Gas on Arctic Route

China is breaking into Arctic transport through a joint venture between the country’s biggest ocean carrier and its Russian counterpart to move natural gas from Siberia to Western and Asian markets

A vessel carrying a liquefied natural gas cargo from Russia's Yamal LNG project is seen at Rudong LNG Terminal in Nantong, China. Photo: Reuters By Costas Paris June 11, 2019 4:26 p.m. ET China is breaking into Arctic transport through a joint venture between the country’s biggest ocean carrier, Cosco Shipping Holdings Co., and its Russian counterpart PAO Sovcomflot to move natural gas from Siberia to Western and Asian markets.

The U.S., Russia, Canada, Denmark and Norway are asserting rights to shipping lanes, and China has made investment there a priority to advance its energy and shipping interests. The agreement came as Russia announced that Sovcomflot Chief Executive Sergey Frank would become the head of a new northern sea route committee that would oversee seaborne trade across the waterway, which runs from the Bering Strait to the Baltic Sea and is open from July to November.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

WSJ /  🏆 98. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Opinion | Americans Aren’t Ready for Cold War IIOpinion: To prevail against China, the U.S. must better understand its rival—and itself, writes wrmead
Read more »

BlackRock Thinks China Can Weather Tariffs On EverythingThe BlackRock Investment Institute, the think tank of one of the largest asset managers in the world, thinks China can weather tariffs on everything
Read more »

BlackRock Thinks China Can Weather Tariffs On EverythingWall Street wants more stimulus from China in the event of a full-blown trade war.
Read more »

Thousands of Protesters Block Hong Kong Roads Over China Extradition BillThousands of protesters blocked roads around Hong Kong’s legislature early Wednesday as lawmakers were set to debate a widely unpopular proposed law that would allow people to be extradited to China.
Read more »

China central bank to inject 35 billion yuan via OMO, resuming 28-day tenor: tradersChina's central bank said it will inject 35 billion yuan ($5.06 billion) th...
Read more »