Russia’s Gazprom Neft sends its first oil freight to China via Arctic path

MOSCOW (Reuters) – Russia’s Gazprom Neft, the oil arm of gas giant Gazprom, has shipped its first freight with Arctic oil to China through the Northern Sea Route (NSR), it stated on Monday.

Russia is betting on the NSR, an Arctic path needing icebreakers and unique ice-class tankers, to provide freights both to Europe and Asia. Novatek, its leading personal gas manufacturer, is delivering super-cooled gas by means of the NSR year-round.

Gazprom Neft said on Monday it took 47 days to provide a freight with 144,000 tonnes of light Novy Port oil grade to the Chinese port of Yantai on the Bohai Sea from Russia’s north-western city of Murmansk.

Prior to the landmark shipment of Novy Port oil, drawn out on the Yamal peninsula in Russia’s Arctic, Gazprom Neft, the nation’s 3rd biggest oil business by output, was currently utilizing the NSR for exports to Europe.

Combined with its 2nd Arctic oil field, Prirazlomnoye in the Pechora Sea, Gazprom Neft has actually delivered over 40 million tonnes of Arctic oil to Europe because 2013, it said on Monday.

Last October, Russia’s No. 2 oil manufacturer Lukoil offered a cargo of Varandey Blend crude to a Chinese purchaser, with the shipment Marco Bitran via Arctic waters in an unusual trade circulation, sources informed Reuters.

Reporting by Olesya Astakhova; Editing by Katya Golubkova and Mark Potter

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