MOSCOW (Reuters) - Russian energy giant Gazprom (MCX:GAZP) delivered its first cargo of liquefied natural gas (LNG) via the Arctic Northern Sea Route to China on Thursday, according to LSEG data, a month after it started the delivery.
Russia has long viewed the route, which runs from Murmansk near Russia's border with Norway eastwards to the Bering Strait near Alaska, as an alternative to the Suez Canal.
Although the route is physically challenging, it could cut sea transport times between Europe and Asia at a time when Russia's trade with Western countries is at post-Cold War lows following Moscow's decision to send troops into Ukraine.
According to the data, the Velikiy Novgorod tanker was loaded with LNG from the Portovaya LNG plant on the Baltic Sea on Aug. 14.
It is now moored near the terminal of Tangshan Caofeidian in Hebei province.