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In 2017, a Russian oil tanker crossed the Arctic without needing an icebreaker, connecting Asia to Europe in just 19 days, much faster than the usual 48 days. Climate change has melted the ice caps, allowing easier transport of fossil fuels. Russia is constructing a $110 billion megaport on the Yamal Peninsula, the country's largest arctic oil terminal, in this newly accessible ocean route. This project is the biggest in the global oil industry and is a significant development in the Arctic region.
