NSR economics under pressure

摘要

The Northern Sea Route (NSR), which links European Russia and the country’s far east through Russian Arctic waters, provides an alternative route to the Suez Canal for crude exports from Europe to Asia-Pacific. But lower energy prices and the high cost of icebreaker support — Rbs1,117/t ($17/t) in winter and Rbs447/t in summer — have made the NSR less economic. Oil shipments along the NSR in 2014-15 from 1mn t/yr in 2012-13 and if ship- ments end, it will affect global market fundamentals.