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15 December 2018 The on-line newspaper devoted to the world of transports 17:28 GMT+1

February 27, 2018

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Agreement MOL-FEIA for the exploitation of the Northern Sea Route and the energetic resources of the region

The understanding is time also to promote the marine route for the connections between Asia and Europe

The shipowning society Japanese Mitsui O.S.K. Lines (MOL) has signed a memorandum of understanding with Far East Investment and Export Agency (FEIA), that Russian al Ministero for the Development of the Far East of Russia is under responsibility, with the scope to cooperate to the development of the Arctic marine routes and Far Russian East.

The parts have evidenced that abundant energetic resources in the Arctic zone exist, in particular natural gas, oil and coal, but that up to now the opportunities of exploitation of such resources are limited because of the deficiency of options of transport in the Arctic. However, with the reduction of the superficial ones frozen up in the Arctic zone and the planning of marine connections in the region, the transport of the natural energetic resources of the Arctic has become commercially feasible.

MOL, in particular, participates to the Yamal project LNG that is the first important world-wide project in the field of the energy and previews the export of cargos through the Northern Sea Route, with the first ship liquefied gas tanker icebreaker of the Japanese company that would have to enter at the end in service of the next month. Moreover MOL has started the drawing up of a study of feasibility for the construction of a terminal for the which liquified natural gas and of a shopping complex in the area of the Kamchatka in collaboration with PAO Novatek, the main gas independent producer of Russia and the main associate of the Yamal project LNG.

Moreover the parts have emphasized that for the connections between Asia and Europe the Northern Sea Route is very short of the traditional marine route that passes through the Suez Canal.

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