Russian and Asian energy companies and investors would meet this week in the Eastern Economic Forum in Vladivostok. They will discuss energy transition plans in the region and measures to reduce environmental impact from the industry, including renewables, hydrogen, and carbon capture and storage technology.
Russia is increasingly looking into Asia to diversify its customer base. This is carried out through some projects, including the Northern Sea Route, the Power of Siberia gas pipeline, and the ESPO oil pipeline. Russian energy companies such as Rosneft, Gazprom, SIBUR, and Novatek have also secured Asian investment in recent years after Western sanctions made them struggle to access Western financing and oil technology.
Asian investors grabbed 30% of the 40% stake offered by Novatek in its Arctic LNG 2 project. Rosneft’s Vostok Oil is expected to replicate such success. However, only traders have so far been interested in the project.
