Russian President Vladimir Putin has refused to believe in the decline of the era of hydrocarbons. His optimistic forecast, the President shared during his speech at the world energy Congress in Istanbul.
The Russian President believes that the real reason for talking about the decline of the era of hydrocarbons is not. So, according to the head of Sberbank German Gref, oil and gas reserves may end by 2032. Putin, however, this prediction does not agree.
“In an environment of falling oil prices more than doubled it has even been said that the hydrocarbon era comes to a close, we must now completely shift to alternative energy sources. I think the real reason for such far-reaching conclusions yet. In any case, yet”, – Putin said (quoted by “Interfax”).
As noted by the Russian President, citing the International energy Agency, in 20-30 years “the world will remain the same hydrocarbon, and the demand for oil and gas will continue to grow”, although not as rapidly as before.
The demand for traditional energy sources is supported “not only by motorization and electrification of such large economies as China, India” but also “the continuing penetration of products oil and gas products in the most different spheres of human life,” Putin explained.
The head of state stressed that Russia is ready to accede to the restriction of oil production, which in September adopted the member countries of OPEC. It is expected that these measures will stabilize the price of “black gold”.
Previously, the media attention was drawn to correspondence dispute of the Ministry of energy and the head of Sberbank German Gref about the likelihood of imminent exhaustion of hydrocarbons. Gref said that the Russian economy should be prepared for the end of the “century of oil and gas” reserves that can be exhausted after six decades. “Not the fact that I’m right,” he added. As the opponent acted as Deputy head of the energy Ministry Kirill Molodtsov, who said that stocks of raw materials in Russia will be enough for at least another 40-50 years.