Natural Resource Ministry submits Arctic mineral base and logistics development plan to the government
The extra-budgetary sum of 10.5 trillion rubles must be found by 2030 in order to implement the comprehensive plan to realize the Arctic's mineral and logistic potential, according to the press service of the Russian Ministry of Natural Resources and Environment. The document has been submitted to the government.
The plan was developed by the Russian Ministry of Natural Resources and Environment following Prime Minister Dmitry Medvedev's instruction upon considering proposals and information from Arctic regions, industrial companies and federal organizations.
"The comprehensive plan includes 118 projects to develop, explore, and process the Russian Arctic's mineral and raw resource base and to ensure that the corresponding infrastructure is in place. The document also accounts for ship building, environment, tourism, various industries, and other areas… We have estimated the funding required to implement the comprehensive plan: about 10.5 trillion rubles of extra-budgetary investment are expected to be raised by 2030 and beyond," the document reads.
The authors of the comprehensive plan have analyzed the possible cargo volume of the Northern Sea Route by 2024 and beyond considering the exploration of the mineral resources. According to them, if the same pace of development is preserved, the cargo volume may reach about 60 million tons (LNG, oil, condensate, solid minerals, coal) or even 77 million tonnes in case of a breakthrough.
"It is possible to increase the estimated flow of cargo along the Northern Sea Route with timely implementation of all the planned projects (Taimyr coal mining region and Payakhskoye oil field) as well as several prospective infrastructure projects (in particular, connecting the Suzunskoye, Tagulskoye and Lodochnoye oil fields to the Northern Sea Route)," the document reads.
At the same time, it is necessary to intensify geological exploration, design support and maintenance measures for the oil fields, including hard-to-extract resources, and develop the surface infrastructure in order to implement all these projects successfully.