Translation. Region: Russian Federal
Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.
Rosneft CEO Igor Sechin compared the “green” energy transition to utopian ideas. According to him, over the past ten years, total expenditure on the energy transition has reached 10 trillion dollars, while over the same period the share of solar and wind energy in the global energy balance has increased by only 4 percentage points – to 6%.
“According to the IEA, this year alone the world will invest more than two trillion dollars in the development of so-called “clean” energy. This is twice as much as in fossil fuels, which still account for almost 80% of global energy consumption,” said the head of Rosneft.
Igor Sechin also emphasized that even doubling investments will not give the desired result. According to experts, achieving zero emissions by 2050 requires more than 180 trillion dollars in investments, that is, on average, more than seven trillion dollars a year will have to be spent. “But Talleyrand also said: “Everything that is excessive is insignificant,” the head of the Company noted.
Another important point is that the transition to a new type of fuel will require a significant amount of time. “In addition, regulators in different countries need to develop unified technical standards for new energy sources, ensuring their universalization and rapid adaptation to any market. This is not an easy task,” Igor Sechin concluded.
Department of Information and Advertising of PJSC NK Rosneft June 21, 2025
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