Production and Use of LNG in the Arctic. Key Quotes

The report, prepared by experts of National Research University Higher School of Economics for the XXII April International Academic Conference on Economic and Social Development, discusses the development of the Arctic as a flagship region with an innovative resource and eco-friendly economy, as well as the international priorities of Russia in the Arctic.

The call of economic growth and economic development requires diversification of different types of fuel used in car industry, marine and railway transportations. By the volume of stocks, maturity of technology, influence on ecology, self-cost for final customers gas fuel has a lot of advantages in front of hydrogen fuel and electrical engines and gas fuels can be most demanded fuel for the nearest decade. Low cost can be the basis for economic growth compensating growing cost of petrol and diesel fuel. Additional positive effect is safety for ecology. Major problems the industry of gas fuel encounters are in poor infrastructure, insufficient legislation and high cost of gas engines. Future development of gas fuel industry is only possible with state-based subsidiaries with priority to development of infrastructure.

The report was prepared as a result of the event «Russian-Finnish Cooperation in the Field of Sustainable Development in the Arctic Region» as part of the ThinkArctic Project, organized by the Roscongress Foundation, the Center for Comprehensive European and International Studies, and the Analytical Center for the Government of the Russian Federation.