High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
by Sabina Zawadzki (Reuters) – Russian gas producer Novatek wants to use nuclear icebreakers to keep the Northern Sea Route, a shipping path traversing the Arctic to Asia, open all year long for its liquefied natural gas (LNG), a top executive said on Wednesday.
“Our plan is to keep the Northern Sea Route open twelve months a year in 2023 to 25 with 100-megawatt-hour nuclear icebreakers,” Novatek Chief Financial Officer Mark Gyetvay told delegates at an energy conference.
Novatek operates the Yamal LNG facilities in Russia’s Arctic north, which have already produced 11 million tonnes of LNG since starting production in December 2017.
Reporting by Ekaterina Kravtsova; writing by Sabina Zawadzki; Editing by Kirsten Donovan
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