Hydrocarbons in the Russian Arctic: ambitions and realities

Arild Moe and Anna Korppoo

Chapter 4 in Climate, Hydrocarbons, Sanctions, 2026, pp 59-72 from Edward Elgar Publishing

Abstract: Despite declarations of a diversified policy for the Arctic, the fossil fuel industries have come to play a dominant role. While only limited oil production currently takes place in the Arctic, there are lofty expectations for future output. Production of liquefied natural gas (LNG) is also very promising. The new Arctic oil and gas projects, as well as planned coal projects, are all export-oriented and dependent on sea transportation, and therefore, are integrated with the development of the Northern Sea Route along the Siberian coast. Development of this shipping route requires state subsidies and investments, alongside commercial cargo from the fuel industries. Climate developments have not had any impact on development plans so far, but there were uncertainties about the economics of oil and coal developments even before the war, while LNG production was expected to expand rapidly.

Keywords: Arctic; Oil; Liquefied Natural Gas; Coal; Northern Sea Route (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035355501
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