Government Allocates Funds for Arctic Projects

Photo: Anosov Sergey/

Government Allocates Funds for Arctic Projects

The Russian Government issued an ordinance dated 10 December authorizing the allocation of additional funds to several projects implemented in the Arctic.

First, the government-controlled reserve fund will disburse about 0.9 billion rubles to finance the construction of an LNG tanker for Arctic LNG 2, a major Russian gas production project to be launched in the High North. The ship being built at the Zvezda Shipyard will be commissioned by 2023. The tanker will have the capability to navigate in the Arctic and transport up to 173,000 cubic meters of liquefied natural gas. It will be used all year round to ship LNG from Taimyr to Asian and European markets via the Northern Sea Route.

Second, the State Transport Leasing Company JSC operating in the Arctic region of Yamal will receive more than 10.5 billion rubles under a government-funded shelf development and shipbuilding program. The sum will cover the cost of leasing cargo, maintenance and passenger vessels to be used in high latitudes.

These measures are intended to spur the sustainable development in Russia’s High North. With transport and infrastructure being key to successful expansion in the Arctic, it is crucial to keep investing into polar shipbuilding in a joint effort by big business and the government.

Arctic Today is a column by PORA CEO Alexander Stotskiy analyzing major international, national and regional events and trends in the Arctic.
Alexander Stotskiy
13 December 2021
Arctic Today