Cargo navigation on the Northern Sea Route (NSR) will become year-round from 2024, Russia's Deputy Prime Minister Alexander Novak said.
According to him, the government is stepping up work to unlock the potential of transport corridors that will increase the mobility of Russian energy resources. The key transport route to achieve this goal is the NSR.
Over the past year, the volume of cargo traffic along the Northern Sea Route exceeded 36.2 million tons, which is 250,000 tons more than the target volume. Compared to 2022, the growth was 5.5%.
As previously reported at “The Arctic: Present and Future” forum in St. Petersburg, cargo turnover along the Northern Sea Route in 2024 is projected at 72 million tons. Initially, the outlook was 80 million tons.
The adjustment is due to the fact that from January to November 2023, exports of Russian LNG abroad decreased by 2.5% compared to the same period in 2022. The sanctions are affecting many Arctic projects that are, consequently, being implemented with delays.
Companies are reviewing initial projects, changing suppliers and the range of equipment they supply, rg.ru notes.
Alex Shishlo for Rough&Polished
