Russia is poised to tap into the unused potential of the Northern Sea Route (NSR) as the country eyes investment projects targeting the route’s development.
Namely, Russia’s Prime Minister Dmitry Medvedev has signed NSR Comprehensive Development Project, the press center of RF Government informed.
The NSR is the shortest route connecting Europe with the Far East and represents a reduction of about one third of the average shipping distance and days of transportation with respect to the currently used Southern Sea Route.
“It is the shortest route linking Europe with the Far East, Asia-Pacific Region, western part of the North America. To put it mildly, its use is not so hot, I admit. It was used more extensively before,” Medvedev said.
According to him, the new document is aimed at enhancing Russia’s unique transport and logistic advantages, bringing money to the budget and paving the way to utilization of mineral resources in the Arctic, Siberia and the Far East, “which is of utmost importance”.
What is more, Medvedev stressed the need for establishing an effective protection of the marine environment from pollution, improve the reliability of transit from the mining sites, both in the Arctic and on the continental shelf Russian Federation. As informed by the government’s press center, work has already began on setting up marine rescue centers, the first in the region.
Russia also wants to attract more cargo to the route in addition to the expected cargo inflow from the Yamal LNG project that is scheduled to be transported via the route.
Initial estimates show that for the period of 15 years more than 80 million tons are expected to transit the route, a possible increase in traffic volume of up to 20 times.
Potential opportunities for partnership are scheduled to be discussed with China at this year’s China-Russia Expo, held under the auspices of the two governments.
Within the campaign, Russia has also started replacing its nuclear-powered ice-breakers with diesel-electric counterparts.
World Maritime News Staff