Cargo traffic along the Northern Sea Route is expected to reach 80 million tons by 2029, Atomflot Director General Vyacheslav Ruksha said in an interview with the Izvestia newspaper.

"Judging by many analysts' estimates, projections by major Russian companies and preliminary talks with a number of key players, we expect cargo traffic along the Northern Sea Route to increase to 80 million tons by 2029," Mr Ruksha said, adding that by 2024, shipments could reach 40 million tons, dominated by bulk commodities including LNG, oil, coal, and metals.

According to Ruksha, the icebreaker fleet needs to be expanded to see the potential of the Northern Sea Route.

"Based on our estimates and long-term contracts, four nuclear icebreakers will be needed when cargo traffic reaches 40 million tons, and as many as eight nuclear icebreakers when freight transit increases to 80 million tons, including a nuclear icebreaker lead ship," he went on to say.