Russia Draws Up Business Plan To Revive The Northern Sea Route

Thursday 7th March, 2013

The Northern Sea Route (NSR) gradually becomes an important transport corridor: latest navigation season set a new record in the number of vessels. The Russian energy giant Gazprom successfully completed world’s first LNG supply via the route. What are the economic reasons behind this ambitious project? The answer is simple: a look at the globe shows that the NSR can be extremely cost-effective. A new shorter trade link between Europe and East Asia can boost trade and therefore accelerate economic growth. Historically Russia has always played a pivotal role in the Arctic shipping industry. Th…

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