Russia accounts for roughly 17 percent of all energy resources supplied to the global market, Deputy Prime Minister Alexander Novak said Thursday during the plenary session of the Russian Energy Week International Forum.
"Russia is a global leader in energy. We supply about 17 percent of all energy resources to international markets. This includes oil, petroleum products, pipeline natural gas, and liquefied natural gas (LNG), in which Russia has already risen to fourth place globally. It also includes coal, which remains in strong demand despite the pessimistic forecasts for the global coal sector that emerged a few years ago," Novak noted.
It's crucial for Russia to maintain competitiveness in the energy market and actively tapping into emerging markets, such as the Asia-Pacific, Africa and Latin America, he said.
Russia will boost energy efficiency and achieve full digitalization of its energy sector while securing its own energy supply and technological sovereignty, Novak said.
He added, "Our goal is to secure a stable oil supply for 50 years, gas for at least 70 years, and coal for at least 100 years."
The 8th Russian Energy Week International Forum is taking place in Moscow from Oct. 15 to 17, with the theme "Building the Energy of the Future Together."
Editor:Leo
