Newsletter: A Profitable Crisis
"Never let a good crisis go to waste," said Winston Churchill when World War 2 was at its darkest. It might seem as though both the Norwegian energy sector and the great powers of the East have been inspired by the famous quote. "Both China and India have their eyes on the resources in the Arctic," believes Editor-in-Chief Arne O. Holm.
In this week's commentary from Editor-in-Chief Arne O. Holm, he takes a closer look at a country that seems to fly beneath the radar in the Arctic, namely India.
"It is an almost accepted truth that China is gaining ever greater power over Russia. But less attention surrounds India's entry into the Arctic. Both of these populous states are targeting Arctic resources," writes Holm.
High North News will follow the development further.
We can also report that Finland is updating its Arctic policy following the war in Ukraine and is sending a delegation to the Arctic Frontiers conference next week.
High North News is also present in Tromsø, Northern Norway, and will be reporting directly from the Norwegian Arctic next week. Perhaps we will see you there?
The spectacular green industrialization that is currently taking place in Northern Sweden illustrates the possibility of action against climate change and has turned prejudice against the northern region on its head.
The energy sector is also booming and the energy crisis has further opened up the market for Norwegian oil and gas.
Norway plans to offer a record 92 blocks for oil and gas exploration in the Arctic during the 2023 concession round. The new discoveries in “the north” will be key for the country and Europe.
At the same time, German oil and gas producer Wintershall Dea withdraws from its Russian joint venture in the Arctic, after criticism for its late departure.
This does not seem to affect Russia's plans of exporting gas to Asia along the Northern Sea Route year-round.
A Russian LNG Carrier completes a roundtrip voyage to China in just 42 days in the heart of winter highlighting how Russia’s goal of year-round exports to Asia is becoming increasingly feasible.
Also, the Norwegian battery company Freyr, reports that they have bought property "somewhere in Europe", as well as in Finland and the US.
There is no escaping news about NATO or security this week either.
The development of the Ukraine war and joint strategic challenges in the North was on the agenda for this weekend's meeting of chiefs of defense in Norway.
In January and February 2023, Norwegian fighter planes monitor Icelandic airspace on behalf of NATO.
That is the week as seen from the north. Feel free to follow us on social media!
Wishing you a good weekend on behalf of the editorial staff,
News Editor, Trine Jonassen
This newsletter was translated by Birgitte Annie Molid Martinussen