Hydrographic Company defined as developer of Bukhta Sever Port terminal under Vostok Oil project
Budget investments in construction will exceed RUB 3.6 billion in 2023-2024
FSUE Hydrographic Company (a company of Rosatom) has been defined as the developer of federally owned facilities of Bukhta Sever Port under the Vostok Oil project. The state customer is Rosatom. Budget investments in construction will exceed RUB 2 billion in 2023 and RUB 1.6 billion in 2024, says Hydrographic Company.
The federal financing will cover the expenses for dredging of the port’s water area, installation of aids to navigation and facilities of the navigation safety system. That will let welcome sea-going ice class ships of over 120,000dwt. New port infrastructure facilities are to be put into operation in 2024.
Oil terminal at the Port of Bukhta Sever is a strategically important facility which is to ensure handling of oil from Vostok Oil fields involving the Northern Sea Route. It will be Russia’s largest oil terminal with a tank farm for acceptance and storage of oil (102 tanks by 2030). Phase I infrastructure will ensure annual handling of 30 million tonnes via Sever Bay port’s terminal with a gradual expansion to 100 million tonnes by 2030.
Vostok Oil is the largest investment project in the global oil and gas industry. The resource base of the project is estimated at 6.5 billion tons of premium-quality sweet crude with a record low sulfur content. The Vostok Oil Project comprises 52 license areas in the northern part of the Krasnoyarsk Territory and in the Yamal-Nenets Autonomous District with 13 oil and gas fields located within their boundaries, including the fields of the Vankor and Payakha clusters.
State Atomic Energy Corporation ROSATOM has been a single infrastructure operator of the Northern Sea Route from 2018. It is in charge of organizing shipping, construction of infrastructure facilities, ensuring navigation and hydrographic support and safety in challenging Arctic conditions. The corporation supervises two federal projects: “Development of the Northern Sea Route” and Northern Sea Route - 2030, takes part in implementation of the NSR Development Plan until 2035 and the initiative of social and economic development of the Russian Federation until 2030 “Year-round Northern Sea Route”. The authority of Rosatom’s NSR Directorate covers Atomflot, Hydrographic Company and Glavsevmorput.
The Northern Sea Route is a single transport system in the Russian Arctic sector. It stretches along the northern coasts of Russia across the seas of the Arctic Ocean (Kara, Laptev, East Siberian, Chukchi seas). The route links the European ports of Russia with the mouths of navigable rivers in Siberia and the Far East. In August 2022, a plan for the development of the Northern Sea Route (NSR) until 2035 was approved. The plan includes over 150 activities with total financing nearing RUB 1.8 trillion.
According to the plan, the annual cargo traffic on the Northern Sea Route is to reach 80 million by 2024, 150 million tonnes by 2030, 220 million tonnes – by 2035.
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