Joint Conference on Energy Overview in the Arctic Region
It is an honour to be able to introduce His Excellency the Ambassador of the Republic of Korea to Denmark, Mr. Sangjin Park, and His Excellency the Danish Arctic Ambassador, Mr. Thomas Winkler, to deliver their welcoming and congratulatory remarks for this exclusive conference trough CSCD.
Climate Change and its Implications
Global climate change is affecting the Arctic Region with reduced sea ice, melting glaciers and shrinking of the Greenland ice cap, leading to warmer winters and extended periods of ice-free waters. Previously impenetrable sea routes are thus opening with possibilities for faster transport routes connecting the Atlantic and the Pacific, reduced costs of oil and mineral exploration and exploitation, and new possibilities for fishing and tourism. With increased traffic, good international relations become crucial, as Arctic States face a need to regulate traffic safely through individual territory, while balancing territorial claims and increased demands for surveillance.
In line with the Confederation of Danish Industry’s (DI) newly released report of September 2019, which focuses on climate and job creation, it is of special interest from a Danish perspective to look at the development within Korean shipbuilding that has successfully developed ships to sail the Arctic passages. Sustainable solutions and stable relations are further interesting in the light of DI’s emphasis on securing production orders to Denmark, with advice to focus on how the new Arctic opportunities are best used in a sustainable way.
By the Northern Sea Route (NSR) along the Russian Arctic coast, it takes roughly 15 days to deliver gas from the Yamal LNG project to Northeast Asia, compared with 30 days by the southwest routes, and the shorter transportation times will lower use of fuel, thus minimize CO2 emission. Likewise, hydropower as a highly renewable source has replaced fossil fuel to provide 60-70% of Greenland’s entire electricity needs, and advantages to erecting wind turbines in Greenland are appearing with interesting possibilities of obtaining green energy from wind in the Arctic.
New Shipping Routes and Business Opportunities
As a result of lower costs and shorter delivery times on transportation, the New Arctic Shipping Ways are likely to become important routes for international trade. Korea has the best technology in the world to manufacture LNG propulsion ships, and the new shipping routes hold great opportunities for the Korean shipping and maritime companies, as well as for Denmark, as the demands for LNG propulsion ships increase with the strengthened standards of ship emissions set by the International Maritime Organization. As of 2018, approximately 40% of 700 ships owned by Denmark are from Korea, and more ships are expected to be produced by Korea in the future.
Speakers and Format
The talks will be under the Chatham House Rule, led by moderator Prof. Rasmus G. Bertelsen, and followed by a Q&A session and networking with refreshments for all guests and speakers.
*We hold the right to make changes in the program