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

Victoria International Container Terminal Extends Contract to 2066

Victoria International Container Terminal Extends Contract to 2066

NYK Invests in Oceanic Constellations Tech Startup

NYK Invests in Oceanic Constellations Tech Startup

Tallink Shuttle to Run Entirely on Renewable Energy

Tallink Shuttle to Run Entirely on Renewable Energy

Green Hydrogen Project at Port of Klaipėda Enters Testing Phase

Green Hydrogen Project at Port of Klaipėda Enters Testing Phase

Subscribe for Maritime Logistics Professional E‑News

El Al fined $39 Million by Israeli antitrust for price gouging in war
Meloni condemns "enemies" of Italy after clashes at the Olympic host city Milan
Sources say that Williams is considering buying gas-producing assets in order to increase AI energy supply for hyperscalers.