diff --git a/lib/core.js b/lib/core.js
index fcb95d38..5375d69b 100644
--- a/lib/core.js
+++ b/lib/core.js
@@ -90,14 +90,15 @@ if (typeof require != 'undefined' && typeof process != 'undefined' && !process.b
  */
 
 var parentModuleContext;
-function getNodeModule(name) {
+function getNodeModule(name, baseURL) {
   if (!isPlain(name))
     throw new Error('Node module ' + name + ' can\'t be loaded as it is not a package require.');
 
   if (!parentModuleContext) {
     var Module = this._nodeRequire('module');
-    parentModuleContext = new Module(process.cwd());
-    parentModuleContext.paths = Module._nodeModulePaths(process.cwd());
+    var base = baseURL.substr(isWindows ? 8 : 7);
+    parentModuleContext = new Module(base);
+    parentModuleContext.paths = Module._nodeModulePaths(base);
   }
   return parentModuleContext.require(name);
 }
@@ -127,7 +128,7 @@ function coreResolve(name, parentName) {
   if (name.substr(0, 6) == '@node/') {
     if (!this._nodeRequire)
       throw new TypeError('Error loading ' + name + '. Can only load node core modules in Node.');
-    this.set(name, this.newModule(getESModule(getNodeModule.call(this, name.substr(6)))));
+    this.set(name, this.newModule(getESModule(getNodeModule.call(this, name.substr(6), this.baseURL))));
     return name;
   }