Barents Sea Oil and Gas Resources

The Barents Sea, supports one of the world’s major fisheries, and is as such, already economically very important. Several major oil firms have expressed interest in exploring deep into Arctic territories, and governments of countries such as the United States, Russia, Canada and Norway have been preparing for this eventuality. RIGZONE published a very interesting article this week regarding Barents Sea exploitation.

2013.01.23 - Barents Sea Oil and Gas Resources Figure 1

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LNG Tanker First Winter Arctic Crossing

BBC reported today that Ob River, a large tanker carrying liquified natural gas, has left Norway in November and has sailed north of Russia on its way to Japan. The tanker is due to arrive in early December saving approximately 20 days of regular journey. According to the owners the changing climate conditions and a volatile gas market make the Arctic transit profitable.

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