Among the priorities are activities aimed at the development of investment projects

Cargo traffic on the Northern Sea Route (NSR) can surge five-fold over the coming five years, the Ministry for the Development of the Russian Far East and Arctic cites Aleksey Chekunkov, head of the Ministry.

State Duma Committee for the Development of the Far East and Arctic has considered updated versions of state programmes for the development of the Far East and Arctic regions.

“We expect a 5-fold increase of cargo traffic on the Northern Sea Route over the coming 5 years. Among the priorities are activities aimed at the development of investment projects, NSR, environment for people living in the Arctic zone of the Russian Federation,” said the Minister.

According to earlier statements, RF Government launches the mechanism of subsidizing regular cargo transportation on the Northern Sea Route. Decree No 397 was signed on 18 March 2022.

In 2021, cargo traffic on the Northern Sea Route totaled 34.85 million, 5.7% more than in 2020 (32.97 million tonnes).

The Northern Sea Route is single transport system in the Russian Arctic sector. It stretches along the northern coasts of Russia across the seas of the Arctic Ocean (Kara, Laptev, East Siberian, Chukchi seas). The route links the European ports of Russia with the mouths of navigable rivers in Siberia and the Far East.

Source: PortNews