Businesses and the government need to coordinate their work to reduce the carbon footprint and create conditions for the emergence of new hydrocarbon reserves, oil in particular, at adequate costs, including by allowing the use of infrastructure
One of the main challenges that we have to work with is creating conditions to develop our own [hydrocarbon] reserves at an adequate price in order to stay below the supply curve […] Our job is to maintain the competitive ability to use infrastructure, which means both access to it and the cost of its use. These are also two of the components that we need to look over the next 20 years because it will be difficult if we don’t have the opportunity to export this oil in a cheap way. This is where the Northern Sea Route comes in handy. Even now, we need to understand and make every effort in all our new developments and, if possible, already at existing fields, to create conditions to reduce the carbon footprint […] Here we need some sort of coordinated policy between companies and the government so that everyone understands what steps will lead to what results — Pavel Sorokin, Deputy Minister of Energy of the Russian Federation.
In the next two or three years, some new ideas will emerge in terms of technological proposals and the use of reserves, but this will all be in the future, and this creates a certain instability. In this regard, all other factors – infrastructure, taxes, environmental restrictions, and demand –must all be balanced to develop the industry [...] When we talk about the need to develop technologies and what needs to be stimulated through taxes, a reduction in various so-called barriers, and various forms of building public infrastructure, this all must be balanced. Because when there is uncoordinated activity, this discourages a company from working to a certain extent — Sergey Donskoy, Member of the Board of Directors, Irkutsk Oil Company (INK).
Conditions [need to be created] through state regulation, and the industry will generate more than RUB 600 billion of investments for us. This is the task that both the region and the government must set before oil companies for a long time, — Sergey Filatov, Director of the Department of Subsoil Use and Natural Resources of the Khanty-Mansi Autonomous Area – Yugra.