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A NASA satellite image taken in September, 2005, illustrates the minimum concentration of Arctic sea ice that year. Warming seas mean Arctic trade routes are increasingly viable.
A NASA satellite image taken in September, 2005, illustrates the minimum concentration of Arctic sea ice that year. Warming seas mean Arctic trade routes are increasingly viable.
(AFP)

Europe’s Arctic trade route to Japan changes LNG game

A new energy trading route is born, linking Japanese power stations to European gas markets. The Arctic Aurora has loaded a cargo of liquefied natural gas at Statoil’s terminal in Hammerfest, Norway, and is now being tracked by Bloomberg in the East Siberian Sea, on a course heading for a power plant near Tokyo. It’s an expensive enterprise, using a vessel equipped for ice, but Tepco, the Japanese energy utility buying the gas, desperately needs fuel to fill the power gap left by Japan’s nuclear shutdown. For Japan, the Northern Sea Route opens the door to alternative gas suppliers, helping to keep a lid on the frothy price of LNG in Asia.