Russian cadets take part in the launch ceremony of the nuclear-powered icebreaker ‘Yakutia’
Vostok Oil at risk of freezing over
The Russian megaproject is facing delays and strategic headwinds that could see it becoming stranded in the Arctic ice
The Vostok Oil project, once heralded as Russia’s flagship Arctic energy enterprise, is facing delays, with its start date having been pushed back to 2026 from 2024. The $100b development is struggling with logistical problems, operational challenges, limited financial commitments and the strategic impact of Western sanctions. According to Ronald Smith, a founding partner at Emerging Markets Oil & Gas Consulting Partners, the delays are operational, although Russia has shown resilience to sanctions so far and could continue to do so. Restrictions on Russia’s access to Western technology and services are forcing it to develop its own Arctic-capable technologies, potentially fostering grea
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