The Northern Sea Route port at Sabetta on the Yamal Peninsula will be open for business complete with a customs post by the 2016, the authorities are predicting. Five members of customs staff will already be in place by the end of the year as it gears up for year-round trade on a route which has traditionally only been open for four summer months. The Northern Sea Route will cut three weeks off the normal sailing times from Asia to trading partners in Europe via the East Siberian Sea. RUB75bn is to be spent on the new ports to give it an eventual annual capacity of 30m tonnes. The new port will also be a key component in the development of the resource-rich Yamal Peninsula with the building of a large-scale liquefied natural gas (LNG) plant, and last week the Governor of Yamal Dmitry Kobylkin said that the Swedish company Rice Capital had invested RUB600m roubles in the design of a new 180km railway line running between the Bovanenkovo gas field and Sabetta across the river Ob.
Source: Siberian Times