Abstract
Currently, natural gas is considered by most countries as the main source of energy, since it is the cleanest of all hydrocarbon fuels. So, the countries of the European Union have already announced their intention to completely abandon coal, in the production of electricity, in favor of natural gas by 2030. A similar policy is being pursued by the countries of the Asia-Pacific region, although they do not specify any specific deadlines. At the same time, natural gas is transported in two ways — using a pipeline and in liquefied form. The main advantage of the second method is that after liquefaction, the gas can be delivered to any point of the planet where there is a demand for it. Currently, the growth rate of the liquefied natural gas market is such that in 15–20 years it will not only catch up with the pipeline market, but also surpass it The paper identifies the key producers and exporters of liquefied natural gas, as well as assesses their potential opportunities in terms of increasing the volume of natural gas production and LNG production. The analysis showed that at the beginning of 2021, the main LNG exporters are Australia, Algeria, Indonesia, Malaysia, Qatar, Nigeria, Russia and the United States. At the same time, Qatar, Russia and the United States have real opportunities to increase export volumes. Australia is also able to increase production volumes, as it has reserves and spare production capacity, but due to the significantly increased domestic demand for LNG, it is likely that it will not be able to do this in the near future.
Highlights
Formation of the concept of eco-balanced development and the system of indicators of socio-economic assessment of the sustainable functioning of the Arctic economic zone in the context of the development of mineral resource potential
We have proposed a new model to evaluate Risk of Operation in the Northern Routes for Oil and Gas logistics that incorporates ecological and technological factors in order to minimize risk leading to higher profitability
This research proposes the creation of a digital technology integrated new value creation model for Oil and Gas companies operating in the Arctic
Summary
Formation of the concept of eco-balanced development and the system of indicators of socio-economic assessment of the sustainable functioning of the Arctic economic zone in the context of the development of mineral resource potential. The northern route, including Alaska, Canada, and Russia, is the shortest way to connect Europe and Asia This route has been, for most of modern history, covered by ice. Climate change has opened new parts of that route to transportation. Oil and gas companies can take advantage of these new routes to respond to changes in demand, in liquified natural gas, condensates, and oil products, due to the growing demand of Asian markets. This route has been proven safer than African routes because to lower piracy and better infrastructure than in African regions
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