Northern Sea Route in Arctic sees unprecedented surge in development
(MENAFN) The Northern Sea Route (NSR) in Russia's exclusive economic zone in the Arctic waters is experiencing an unprecedented surge in development, according to Aleksey Chekunkov, the minister for the development of the Far East and the Arctic, who spoke with RT on Wednesday.
Chekunkov emphasized that in the last year, the volume of freight traveling through this crucial transport route would have increased by an astounding eightfold to 34 million tons annually. He also expects that continuing infrastructural projects will help this turnover reach 80 million tons or higher by next year.
“The Northern Sea Route has already become a full-fledged international artery; it can already be considered a global transportation corridor. A large part of the global economy depends on it; all the countries that receive our liquefied natural gas, including those that are currently deemed ‘unfriendly’… The intensity of shipping will increase many times over in the next seven years,” the minister said, addressing in Vladivostok on the margins of the Eastern Economic Forum.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.