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Minister: 80 million tonnes of cargo to be transported along Northern Sea Route by 2024

Construction of icebreakers, cargo ships and port infrastructure in the Arctic will be synchronized with the implementation of investment projects, according to the minister

August 29, /TASS/. It is planned to synchronize the time of construction of icebreakers, cargo ships and port infrastructure in the Arctic with the implementation of investment projects in order to boost freight traffic along the Northern Sea Route to 80 million tonnes by 2024, Russia’s Minister for the Development of the Far East and Arctic Alexander Kozlov said in an interview, published in the official magazine of the Eastern Economic Forum.

"Together with Rosatom and the Ministry of Transport of the Russian Federation, we plan to synchronize the construction of icebreakers, cargo ships, the emergency rescue fleet, and port infrastructure in accordance with investment project timelines," he said. "Obviously, the required infrastructure will appear earlier than the new plants. That is the only way we can reach the objective set before us by the Russian president [Vladimir Putin]: to ramp up the cargo turnover of the Northern Sea Route to 80 million tonnes by 2024."

According to the minister, the Arctic’s biggest investor Novatek is building liquefied natural gas (LNG) terminals in the region and plans to create another terminal in Kamchatka in Bechevinskaya Bay. The terminal is expected to be able to handle 21.7 million tonnes of LNG annually. 69.7 billion rubles ($4.6 billion) have been invested in the project.

"NOVATEK is creating its LNG sea shipping complex in anticipation of the development of the Northern Sea Route, the shortest sea route between Europe and Asia," he added.

The Eastern Economic Forum established in 2015 takes place each year in Vladivostok. It serves as a platform for the discussion of key issues in the world economy, regional integration, and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations.The 5th Eastern Economic Forum is due in Vladivostok on September 4-6. The event’s organizer is the Roscongress Foundation. TASS is the forum’s general information partner and official photohost agency, as well as the operator of the forum’s presentation zone.