Russian Ministry of Natural Resources and Environment expects transportation of minerals via Trans-Arctic Transport Corridor to multiply between now and 2035

MOSCOW. Feb 27 (Interfax) - The Russian Ministry of Natural Resources and Environment predicts that the transportation of minerals via the Trans-Arctic Transport Corridor (TATC) will multiply between now and 2035, Minister of Natural Resources and Environment Alexander Kozlov said during a meeting of the State Arctic Commission.

"Last year, 32.7 million tonnes of raw materials were transported along the Trans-Arctic Transport Corridor, which was 88% of its total capacity, including 21.3 million tonnes of liquefied natural gas, 10.6 million tonnes of oil and condensate, 400,000 tonnes of coal and 400,000 tonnes of coal concentrates. The cargo came from 19 large raw materials projects, for which 58 licenses were in effect, and the largest of them were LNG projects in Yamal - the Novoportovskoye, Prirazlomnoye and Varandei oil fields," he said.

"According to data from technical projects provided to us by companies from Rosnedra, transportation along the Northern Sea Route (NSR) should quadruple by 2035 to reach 123.5 million tonnes. That is 109.2 million tonnes of hydrocarbons and 14.3 million tonnes of solid minerals," the minister said.

"The range of raw materials transported will expand significantly by 2035. For oil and condensate, we expect grow to 78.3 million tonnes, 30.9 million tonnes for liquefied natural gas and coal should increase to 10.4 million," Kozlov said.

He also said that overall geological exploration costs would "grow slightly each year, by around 5%-10%".