Briefly explain China’s strategic interests in Arctic.
The Arctic is becoming a “new” political space in which China wants to be actively involved. As the emerging global power of the 21st century, it actively wants to participate in policymaking processes and ensure that its interests are being met. Two overarching strategic interests are the region’s previously inaccessible natural resources as well as the access to emerging shipping lanes.
The Arctic region, especially Russia’s territories and near-shore waters, hold significant oil and gas reserves. Through several large-scale investments, including financing for Novatek’s Yamal LNG and Arctic LNG 2 projects, China is actively involved in the development and exploitation of these resources. China benefits from long-term supply contracts with Novatek and its shipping partners of LNG.( Collapse )