Russia Rising as Energy Superpower on U.S. Demand

The legendary sea-faring route from the United States across the Atlantic to Russia’s northern city of Murmansk, through which vital supplies went to the Soviet Union some 60 years ago to help the country fight in World War II, is looking to get a new breath of life. This time, however, the traffic is going to be reversed, shipping liquefied natural gas, or LNG, from Russia to energy-hungry North America.

During the war, lend-lease proved to be a successful strategy for the Soviet Union, which desperately needed both food to feed the Army and equipment to maintain military operations, as well as for its Western Allies, whose help ensured that Nazi Germany’s armed forces remained focused on the Eastern front.

“Russia wants to be the new Saudi Arabia in terms of global energy — a global energy partner for consumer countries,” said Chris Weafer, chief strategist at Alfa Bank, who has advised the Organization of Petroleum Exporting Countries.

The Moscow Times