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Caspian Energy Journal Caspian European Club
Friday, 04 September 2015 15:30

Dmitry Medvedev: new producers should be included into energy strategy 2035

 

New consumers, manufacturers and technologies on the oil-gas market, as well as escalated competition should be taken into account when finalizing the Energy Strategy of Russia until 2035, and Russian oil and gas companies should have a response to these trends, Prime Minister of the Russian Federation Dmitry Medvedev said, Caspian Energy News (www.caspianenergy.net) reports with reference to RIA Novosti.

“In recent years the market has welcomed new producers and brand-new production and processing technology. Actually it has always been so, even 50 years ago. Emerging markets and developing countries become main consumers, and competition sharpens. All of this we should take into consideration in the development of the energy strategy 2035”, Dmitry Medvedev said.

“Obviously, the Russian oil and gas companies should respond to these trends, they should have the capacity and potential to keep our leading positions. This is very important. And the projects to be started now are a good proof to that”, the Prime Minister of the Russian Federation said.

The draft energy strategy 2035, which was submitted in March, envisages investments of about $2.5 trillion, and assumes a significant increase in gas and LNG production. By 2035 gas production is set to reach 805-880 billion cubic meters a year from current 640 billion cubic meters, while a six-fold increase is expected for LNG production, up to 82 billion cubic meters.

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