Russia Sets Record in Oil Transport via the Northern Sea Route

Russian Deputy Prime Minister Alexander Novak announced during a meeting on the development of the Northern Sea Route that oil was the main cargo transported via the route last year, totaling 36 million tons. In the government meeting held at the "Russia" exhibition forum, he stated that the flow of goods through the Northern Sea Route reached a record level in 2023. He said, "Last year, a record flow of goods was registered via the Northern Sea Route, with more than 36 million tons shipped." Novak added that crude oil was the primary material shipped last year, accounting for about 2.1 million tons. He emphasized that the implementation of large projects in the oil, gas, and mining industries, along with the development of port infrastructure, will contribute to increasing the flow of goods through this route. He predicted that cargo traffic through the route would rise to 40 million tons in 2024, considering liquefied gas shipments from the "Arctic LNG-2" project. The Northern Sea Route extends through the Arctic Circle and connects the Atlantic and Pacific Oceans. Russia is diligently working to develop it, continuing to manufacture additional icebreakers to escort commercial ships, thus bolstering its largest icebreaker fleet in the world. It is expected to become a major trade route between Europe and Asia.