MIL OSI Translation. Region: Russian Federation –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Alexander Novak held a panel session “World energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”
Alexander Novak held a panel session “World energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”
Alexander Novak held a panel session “World energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”
Alexander Novak held a panel session “World energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”
Alexander Novak held a panel session “World energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”
Alexander Novak held a panel session “World energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”
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Alexander Novak held a panel session “World energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”
Deputy Prime Minister Alexander Novak spoke at the panel session “Global energy as the basis for economic growth and well-being: in search of balance” at the international forum “Russian Energy Week”.
The discussion was also attended by the Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel, the Executive Vice President, Minister of Oil of the Bolivarian Republic of Venezuela Delcy Eloina Rodriguez Gomez, the Minister of Energy of the Islamic Republic of Iran Abbas Aliabadi, the State Secretary for the Development of Bilateral Relations of the Ministry of Foreign Affairs and Foreign Economic Relations of the Republic of Hungary Illes Boglarka, the Deputy Prime Minister of the Republic of Belarus Viktor Karankevich, the Minister of Energy of Uzbekistan Jurabek Mirzamakhmudov.
During the session, participants discussed issues of the functioning of the global energy market in the context of growing demand for global energy over the next 20 years, the role of traditional and renewable energy sources, as well as the impact of unlawful restrictions on hydrocarbon-producing countries.
According to Alexander Novak, over the past 10 years, demand for global energy has grown by 13-14%. In the next 20 years, primary energy consumption will grow by 25%. Both its consumption and the range of industries that generate demand for it will change structurally. In particular, the Deputy Prime Minister recalled that today digital technologies already consume 8-10% of energy, and in the next three years this volume will double, primarily due to the active implementation of artificial intelligence, as well as increased consumption by electric transport. Despite the growth in the share of renewable energy sources, hydrocarbons will continue to play a key role in the global energy balance.
“Traditional energy sources, hydrocarbons, and primarily oil and gas, will continue to provide supply on global energy markets. If today we see an annual growth in oil consumption of 1-2%, then by 2050, instead of today’s 102 mbps (million barrels per day), we will see about 120 mbps. As for gas, the rate of consumption growth will be even higher: approximately plus 35% to today’s volumes by 2050. That is, we can state that, despite a slight decrease in the share of hydrocarbons, they will still dominate in ensuring global energy consumption,” noted Alexander Novak.
The Deputy Prime Minister recalled that Russia is a key player in the global oil market. The strategy for the development of the fuel and energy complex until 2050 envisages maintaining global leadership based on the introduction of modern technologies, achieving technological sovereignty, modernizing the oil, gas, and electric power industries, developing new logistics routes, transport and port infrastructure.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
http://government.ru/nevs/52809/
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.