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

First Green Methanol Bunkering of New Car Carrier Successfully Completed

First Green Methanol Bunkering of New Car Carrier Successfully Completed

Egypt Looks to Sign Multi-Year LNG Supply Deal

Egypt Looks to Sign Multi-Year LNG Supply Deal

Houthis Threaten Targeted Attacks on Shipping Companies Visiting Saudi Ports

Houthis Threaten Targeted Attacks on Shipping Companies Visiting Saudi Ports

DP World, EBRD Sign $28m Loan to Electrify Constanța Terminal Operations

DP World, EBRD Sign $28m Loan to Electrify Constanța Terminal Operations

Subscribe for Maritime Logistics Professional E‑News

Sources say Egypt is in negotiations with energy giants to secure a multi-year LNG deal.
Source: Attestor will take over Condor in full by September 30.
Red Sea war insurance rates rise after Houthi Blockade, say sources