This article describes the hydrocarbon reserves in the oil and gas provinces of Russia’s Arctic territory, as well as specific features of the region’s raw hydrocarbon potential. It has been noted that the implementation of Arctic hydrocarbon-associated projects requires that a unified transport and logistics system be created, with the Northern Sea Route being the basis. The factors affecting the volume of cargo transportation along the Arctic routes are presented. It has been established that the hydrocarbon extraction and liquefied natural gas production in the Russian Arctic zone is the most important factor in the formation of cargo flows along the Northern Sea Route. The most significant oil and gas projects that comprise the bulk of freight traffic flow along the Arctic transportation corridors have been reviewed. The ports, as the main element of the Arctic transport system, are described in terms of their state and infrastructure. It has been indicated that the construction, modernization, and operation of the Arctic ports are closely related to the creation of long-distance railway corridors, and the construction of new railway lines leading to the Arctic Basin ports can serve as a reliable basis for the growth of the Northern Sea Route’s cargo potential. A conclusion has been drawn about the special significance of the Murmansk region for the formation of the Arctic transport system.