Moscow to fund a third of Northern Sea Route costs
Novatek, Russia’s biggest private gas producer, is already using the route to ship liquefied natural gas to Europe and Asia
24 June 2019 - 18:50
Moscow — Russia’s ambitious Northern Sea Route (NSR) requires 735-billion roubles ($11.7bn) in investments, with the state budget to provide a third and the rest to come from companies and banks, said the head of state nuclear firm Rosatom.
Rosatom, the world’s top nuclear company in terms of foreign orders, was selected by the Russian government to operate the NSR — the Arctic route Moscow wants to turn into a new Suez — co-ordinating development of the project among its users...
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