BRICS Countries Showing Interest in Arctic Energy Projects


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The BRICS countries are interested in Russia's energy projects in the Arctic region, said the Ambassador-at-Large of the Ministry of Foreign Affairs of the Russian Federation at the 5th International Municipal BRICS+ Forum.

The BRICS Ocean and Polar Science and Technology Working Group is the main platform for cooperation between BRICS member countries. […] The BRICS countries are interested not only in natural resources, but also in the region's transport development, shipping, and shipbuilding, the ambassador said.

The BRICS countries pay great attention to the Northern Sea Route (NSR). The NSR attracts attention in international transit shipping for its key advantage over the Suez Canal, its shorter distance, which reduces sailing time, costs and greenhouse gas emissions. Besides, Russia is implementing major energy projects jointly with China, such as Yamal LNG and Arctic LNG 2. India is also interested in these projects.

Trade turnover between Russia and China has increased by almost 40 per cent, the ambassador stated.

Last year, the volume of mutual trade with India more than tripled. With regard to the Arctic region, we are mainly talking about a noticeable increase in demand for minerals and hydrocarbons, he added.

Brazil is also showing interest in the Arctic, namely in trade and economic cooperation in the region, in mining projects, including offshore mining projects. Moreover, the country is seeking observer status in the Arctic Council.

Currently, around 25% of the Brazilian imports of fertilisers originate from Russia.

Source: TASS