Production and Use of LNG in the Arctic. Key Quotes

The main meaningful outcomes of the V International Forum «Russian Energy Week».

Already grappling with a supply glut in liquefied natural gas (LNG), global gas companies face fresh challenges due to two seismic events: the COVID-19 pandemic and the global oil price shocks. Together, these developments are set to deepen and lengthen the current imbalance between supply and demand in LNG markets, leading to a lower-for-longer price environment. As a result, up to 8% of global LNG demand could be at risk (more than 25 million tonnes per annum, or MTPA) in the near term while the low-price environment could last another one to two years.

Specialists of the University of Alaska Fairbanks have prepared a report elaborating politics and position of China in the Arctic, specifically, bilateral relations between Alaska and China.

Igor Sechin, Chief Executive Officer of Rosneft Oil Company, presented the keynote speech «The Flood on the Energy Market. The Second Abduction of Europa» at the Special Session of the 15th Verona Eurasian Economic Forum.