The value of the explored hydrocarbon reserves in the Arctic reaches $3.6 trillion. Russia controls most of the Arctic reserves - 73% of gas and 45% of oil, the press service of the Eastern State Planning Center reported.
The economy of the Arctic zone of the Russian Federation today exceeds 9.7 trillion rubles. Seven major investment projects with total investments of over 20 trillion rubles are planned to be implemented in the region, including Vostok Oil with 11.75 trillion rubles of investments, as well as Arctic LNG and the projects of Norilsk Nickel and GDK Baimskaya.
The implementation of these programs will create 155.500 jobs and strengthen Russia's position as a leader in Arctic resource extraction.
The Northern Sea Route, a key transport corridor between Europe and Asia, passes through the Arctic. The volume of traffic along the route increased from 31.5 million tons in 2019 to 37.9 million tons in 2024 and, with infrastructure development, could reach 150 million tons by 2035.
The delivery time along the Northern Sea Route is significantly shorter: from Murmansk to Shanghai in summer - 12 days, in winter - 28 days, while the journey from Novorossiysk through the Suez Canal takes 30-35 days. angi.ru reports.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
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