Liquid Natural Gas (LNG)

Due to energy demands and energy insecurity rising globally, oil companies and governments are preparing for Arctic exploration and exploitation. Liquid Natural Gas (LNG) is one of the fossil fuel resources currently being extracted in the Arctic to meet these demands. Russia has very recently opened a $27 billion plant in the Yamal Peninsula within the Arctic Circle that is expected to extract over 16 million tonnes of LNG per year. The plant is set to open in 2019, and represents Russia’s ambition of tapping into the vast hydrocarbon deposits in the Arctic (see definition for hydrocarbon exploration). The Yamal Peninsula is covered by ice for most of the year, with temperatures dipping below – 50 ° C: these are extreme conditions where such a plant has never before been built.