Achievement of cargo traffic in the amount of 80 million tons along the Northern Sea Route by 2024 remains valid

The achievement of cargo traffic in the amount of 80 million tons along the Northern Sea Route (NSR) by 2024 remains valid, Alexei Chekunkov, minister for the Development of the Far East and the Arctic, told Interfax in Murmansk on Friday.

"Achieving the figure of 80 million tons by 2024 depends on the implementation, first of all, of the Vostok Oil projects, and the Rosneft oil company confirms plans to commission the project on time," he said.

"Further, these are projects related to liquefied natural gas, Arctic LNG, projects in the coal mining industry and projects of Norilsk Nickel. All these projects are aimed at export, generate foreign exchange earnings and are currently at the highest point of the market, the high point of prices. Therefore, these projects will be implemented and will bring us export earnings," Chekunkov explained.

He stressed that "the relevance of the development of the Northern Sea Route in the context of external restrictive measures is only increasing" and recalled that the traffic along the NSR is growing dynamically.

At the same time, the construction of icebreakers and ice-class vessels intended for the export of goods along the NSR continues at the shipyards, the minister recalled.

Besides, since this year, subsidizing of cabotage cargo transportation from the ports of St. Petersburg and Murmansk to the ports of the Far East and in the opposite direction has begun. The plans include two regular voyages per year of the Sevmorput lighter carrier, which should make domestic transportation more profitable for shippers.

"The development of the Northern Sea Route will take place in accordance with the plan. Moreover, we will continue to suggest measures to intensify traffic along the Northern Sea Route and increase its safety and attractiveness," the head of the Ministry for the Development of the Far East said.

Earlier it was reported that Rosatom expects a significant increase in the volume of cargo transportation along the NSR: from 32.9 million tons in 2020 to 80 million tons in 2024 and up to 110 million tons in 2030.

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Source: IA "Finmarket"