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“Northern Sea Route: New Challenges” opens a new window of opportunities for global markets

ST. PETERSBURG – June 23, 2023 – The Northern Sea Route (NSR) has great potential to be the most important transport artery linking the vast expanses of Russia’s Arctic territories, as well as countries with access to the Arctic Circle and the Pacific Ocean water area, said Director General of Rosatom State Atomiс Energy Corporation (ROSATOM) Alexey Likhachev.

“Global logistics has always sought a balance of safety, sustainability and efficiency. But over the past few years, events have occurred that changed world logistics. In such circumstances, safety and sustainability become obvious priorities,” he said.

Speaking at the session “The Northern Sea Route: New Challenges”, which was held within the framework of SPIEF-2023 recently, Likhachev said that NSR was becoming a unique new route, and in current conditions, a great potential for cooperation with friendly states in development of the transit cargo traffic.

“And we are already doing all the necessary work,” he said.

Director General of Rosatom State Atomiс Energy Corporation (ROSATOM), Alexey Likhachev

The route, he said, will improve the sustainability of global transportation, significantly reducing the waiting time in the queue for passage.

An additional logistical corridor will help “unload” old routes, as well as increase the efficiency and cost-effectiveness of cargo for many countries, including those located closer to the equator in the Pacific.

As a link between the Russian Far East and the western parts of the country, the NSR continues to be an important logistical hub between Asia and Europe. Located for the most part in the waters of one country – Russia – the Northern Sea Route guarantees the safety of all transportation.

It was noted at the session that the NSR is experiencing a momentum of development due to mining, infrastructure and logistics projects. In the past decade there was a radical change due to projects of “Nornickel”, “Novatek” and “Gazprom Neft”, who built a fleet of high Arctic class, which made the Northern Sea Route efficient and safe.

“Last year by order of the President of the Russian Federation in addition to icebreaker logistics Rosatom took power over maritime traffic management on the NSR. The organization Glavsevmorput coordinates all navigation: issuing permits, control over execution, routing for all vessels that operate on the NSR,” said Alexey Likhachev.

Also in the same session, DP World CEO Sultan Ahmed Bin Sulayem also agreed that the Northern Sea Route development project has a huge potential, and it is important to determine what exactly needs to be done to make it a success.

“I am confident that through the participation and support of multiple stakeholders, cargo owners will be able to appreciate the economic benefits of the project and the plan to implement it. This will contribute to building trustful relations with the public and to the fact that the NSR will soon become an alternative to the existing popular routes between Europe and Asia,” he said.–THE MALAYA POST

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