This article analyzes the interaction of Russia and China in the Arctic region, in particular in the field of trade in liquefied natural gas. It reveals the key reasons for China's increased interest in implementing business opportunities in the Arctic over the past few years. The largest LNG projects with the participation of Chinese investments were considered: the successfully functioning Novatek`s project “Yamal LNG” and the “Arctic LNG-2” under development. The article demonstrates the benefits of cooperation between Russia and the PRC in the Arctic, as well as some of the dangers that accompany China`s increased presence in this region, such as the possibility of China's monopolizing the Northern Sea Route. As an option to eliminate the existing threat, it is proposed to diversify international relations in the Arctic region due to the strengthening of relations with Japan.