Arctic Circle talks about the Northern Sea Route, lying between Arctic waters and within Russia’s exclusive economic zone. The Route has seen a significant economic growth the last years, which also affected population change, which in this area chooses to leave for the hinterland.
Yamal lies in the core heart of the Arctic development, as well as the key driver for the Northern Sea Route. This indicates a rise in investment, which is the highest ever recorded.
This development has also affected population, as people are moving out. For this reason, the Arctic Circle is trying to find solutions to keep them.
What is more, transport of the goods through the Northern Sea Route has doubled the last year, while it is expected that it will increase dramatically in the recent future.
Regarding infrastructure development, there is lack of infrastructure in the eastern part of the Route. However, this situation is improving, with Russia investing, increasing the potential to get more of the goods into new ports along the Northern Sea Route.
In addition, currently there are only 27 transits, which is expected to change radically in the future. As for the potential cargo in the Route, Russia has set a target of 80 million tons by 2024. This goal can be reached, especially if certain projects are realized. If this happens, the transport of goods through the Northern Sea Route will largely increase.
