+44 207 394 30 90 (London)

Mr. Donskoy: gas will be the main energy source

Main » News » Mr. Donskoy: gas will be the main energy…

Global share of hydrocarbon fuel will be reduced by 50% by 2050. Starting from 2034, gas will become the main source of energy in the world, said the minister of natural resources and ecology Sergey Donskoy.
“In spite of energy resources diversification, experts say that the share of hydrocarbon fuel will be decreased from 80% to 50% after 2050. Oil and gas will account for 44% of energy supply in the world (now it is 53%). Starting from 2034, gas will be the main source of energy”, says Mr Donskoy.

Russia has observed a positive trend in the replenishment of resource base. Oil reserves increment in 2016 amounted to 575m tonnes, gas – 702bn cubic m.

“Since the depletion of most accessible resources, main O&G basins – West-Siberian, Volga-Ural and East-Siberian – entered a more mature phase. It is almost impossible to find new large fields here, while the possibility to find small fields, as well as to find unconventional hydrocarbon reserves still exists”, states the Minister of Natural Resources.

According to Mr. Donskoy, the possibility to discover large fields in poorly explored districts of North Siberia and Russian continental shelf exists.

“This year features major discoveries. We expect reserves increment. We are sure that the investments in geological exploration will be larger than last year. The industry, geological exploration is on the rise. The deal with OPEC had a positive impact on fluctuation and stabilization. As we have already mentioned, we expect a 15-20% increase of geological exploration activities”, concluded the Minister.

Source: vestifinance.ru


Gazprom’s Amur gas processing plant remains on schedule

Construction of the project’s main phase is progressing on schedule, with supply and assembly of Linde AG’s equipment for cryogenic gas separation installations of the complex’s first production lines now under way, with additional heavy equipment for those units to be shipped to the site via the Zeya River starting this summer, Gazprom said. The…

Saudi Arabia and Russia consider 10 to 20 year oil alliance

Russia and OPEC member Saudi Arabia are seeking to extend oil market cooperation for decades to stabilise crude prices. Saudi Arabia and Russia are working on a long-term deal to extend their alliance on oil curbs that began in January 2017, after a crash in crude prices. “We are working to shift from a year-to-year…

Russia, Saudi Arabia in talks for unprecedented deal to control oil supplies for 20 years

NEW YORK — Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years to come. Saudi Crown Prince Mohammed bin Salman told Reuters that Riyadh and Moscow were considering a longer deal to extend a short-term alliance on oil curbs…

Spelling error report

The following text will be sent to our editors: