Russia to Spend $30 Billion on Northern Sea Route by 2035

August 4, 2022

© Andrei Stepanov / Adobe Stock
© Andrei Stepanov / Adobe Stock

Russia is to spend almost 1.8 trillion roubles ($30 billion) on the Northern Sea Route development project up to 2035, according to a document uploaded to the government's website.

The document said the sea route, which is being facilitated by reduced sea ice as a result of climate change, is "a very important transport corridor, of both national and global significance".


(Reuters - Reporting by Reuters; Editing by Alison Williams)

Logistics News

DSV Delivers Petrochemical Columns to ORLEN

DSV Delivers Petrochemical Columns to ORLEN

UK’s Portland Port Expands Services with LNG Transfer Capability

UK’s Portland Port Expands Services with LNG Transfer Capability

Golden Pass Texas Facility Ready for Inaugural LNG Export

Golden Pass Texas Facility Ready for Inaugural LNG Export

Singapore, Los Angeles and Long Beach Renew Green Corridor Agreement

Singapore, Los Angeles and Long Beach Renew Green Corridor Agreement

Subscribe for Maritime Logistics Professional E‑News

Oil prices dip as markets await possible US-Iran talks
GE Aerospace maintains outlook despite fuel price surge that slows growth of flights and tests airlines
Alaska Air withdraws its 2026 profit forecast due to fuel cost uncertainty