What’s new: Year-round navigation along the entire Northern Sea Route (NSR), a 3,500-mile shipping route in Russia’s Arctic economic zone, will be possible “as soon as next year,” Russian President Vladimir Putin said during the Third Belt and Road Forum in Beijing.
Speaking at the opening ceremony of the forum on Wednesday, Putin said Russia welcomed interested countries to “get directly involved” in the development of the route, adding that Moscow will provide icebreaker escort, communications and supplies.
Russia is also building a railway from inland towards its ports on the Artic Ocean as well as deepwater terminals at the eastern end of the NSR, in an effort to connect the route with its major logistics hubs, Putin said, according to the transcript of his speech from the Kremlin.
The background: The NSR, stretching from the eastern edge of the Barents Sea to the Bering Strait, is the shortest sea passage between Europe and Asia.
The route has become an increasingly viable alternative to other passages connecting Europe and the Asia-Pacific region such as the Suez Canal, as melting Arctic ice caps are extending its navigable season.
In September, a first delivery of liquefied natural gas from Russia to China was made via the NSR, according to Russian energy giant Gazprom.
Contact reporter Kelly Wang (jingzhewang@caixin.com) and editor Jonathan Breen (jonathanbreen@caixin.com)
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