Russia’s Vostok Oil project has loaded its first crude oil shipment for export via the Northern Sea Route. President Vladimir Putin inaugurated on September 5 the approximately 790-kilometer pipeline connecting the Vankor and Payakha oil fields to the newly built Sever Bay terminal on the Taymyr Peninsula. The pipeline has a design capacity of 100 million tons per year, with an initial phase at the terminal handling 30 million tons annually. Rosneft aims to reach the 30 million ton supply target by the second half of 2027. Russia is targeting a total transport capacity of 70 million tons along the Northern Sea Route by 2030, up from an estimated 37 million tons in 2025.
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