Newsletter Is the Green Shift Over Before It Begun?

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On Monday, the Norwegian government presented its proposal for the 2025 state budget. 

The government wants to give Longyearbyen NOK 100 million in electricity support in 2025, but the community council chair says that is unlikely to cover the increased energy fees. 

And the Norwegian government wants to spend a total of NOK 110 billion on defense in next year's state budget. (Norwegian only) 

A green failure? 

According to the CEO of Norwegian hydrogen company TECO 2030, the money market in Norway is "dry" for both public and private capital. 

And the Swedish battery company Northvolt is heading toward bankruptcy. 

“In that case, it would be a gigantic setback for the European and Arctic investment in the green shift. In addition, it would be the most expensive adult education of all time”, says Editor and Commentator Arne O. Holm in his latest comment. 

The shadow fleet 

We continue to follow Russia's shadow fleet closely. 

Norway had adopted a new round of sanctions directed toward Russia's energy sector and shadow fleet. (Norwegian only) 

Currently, a Chinese-manufactured power plant meant for a sanctioned Russian LNG project continues to inch closer to the Arctic. 

Russia and China are also cooperating on defense, and the Chinese Coast Guard and Russian Border Service vessels have conducted a joint patrol in the Arctic Ocean for the first time. 

Also, read about how Russia has appointed a new Ambassador to Norway. 

And finally, some fisheries news: Norway's Minister of Fisheries and Ocean Policy has implemented changes to help the situation after the haddock fisheries ended. (Norwegian only)

Read about this and much more at High North News. Next week, we report directly from Iceland and the international conference, the Arctic Circle Assembly. Feel free to follow us on social media. 

Best regards, Editor-in-Chief Trine Jonassen