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Новак Александр
Alexander Novak
Minister of Energy of the Russian Federation
Quotes
09.04.2019
International Arctic Forum 2019
Production and Use of LNG in the Arctic
The factor that plays an important role today is the protectionism that we see on part of the United States, which, in fact, imposes their liquefied natural gas on European consumers to the detriment of their freedom of choice
09.04.2019
International Arctic Forum 2019
Production and Use of LNG in the Arctic
The rate of global gas consumption growth is about 1.6% per year. This is the highest rate of energy consumption in the world. Over the past 10 years, gas demand has increased by 40%, that is by 1.5 billion cubic metres of gas. <...> Gas trade increased from 1,134 billion to 1,778 billion cubic metres <...> We expect that the share of LNG trade will increase to 51% by 2025, and to 70% by 2040. <...> In general, the share of natural gas in the global energy mix will grow from 23% in 2017 to 26% in 2035. The share of oil and coal will be declining over this period by about 10% overall
09.04.2019
International Arctic Forum 2019
Production and Use of LNG in the Arctic
There is a large market niche, and there are enormous opportunities for Russia to participate in the world markets, and to occupy up 30%–40% of this niche, taking into account our capacity in terms of the natural resource base and our competitiveness
09.04.2019
International Arctic Forum 2019
Production and Use of LNG in the Arctic
Natural gas reserves in the Russian Arctic amount to 53.4 trillion cubic meters. <...> Today, Russia produces 725 billion cubic metres, of which 83% is produced in the Arctic zone. That gas is competitive, despite the fact that it is produced in the Arctic, because of the low cost of production, very good quality of natural resources and their occurrence
14.02.2019
RIF 2019
The Fuel and Energy Sector: Creating the Conditions for Investment to Guarantee the Continuing Competitiveness of the Russian Economy
“The total investment in the fuel and energy sector in all areas amounted to about 5 trillion roubles in 2018. That is about 40% of the total investment volume. The fuel and energy sector drives the development of many industries; it accounts for 25% of the GDP and about 60% of exports,”
14.02.2019
RIF 2019
The Fuel and Energy Sector: Creating the Conditions for Investment to Guarantee the Continuing Competitiveness of the Russian Economy
“The share of Russian gas in the global market has grown to 40%. At the time when the battles around Russian gas started, the share was smaller: it was 35%. The consumer chooses a competitive supplier. As for oil, we take up 11% of the overall global market,”
14.02.2019
RIF 2019
The Fuel and Energy Sector: Creating the Conditions for Investment to Guarantee the Continuing Competitiveness of the Russian Economy
“The government has worked out the proposals for developing such a sector as petrochemistry. We see great potential here. We now occupy only 2% of the global market for petrochemical products,”
14.02.2019
RIF 2019
The Fuel and Energy Sector: Creating the Conditions for Investment to Guarantee the Continuing Competitiveness of the Russian Economy
“By 2024, we can reach the investment volume of 7.5 trillion roubles. That is, in fact, a 50% increase in volume. To do that, we need to stimulate oil production in Western Siberia at existing fields, invest in petroleum chemistry (400 to 500 billion roubles a year), produce and sell LNG in global markets (USD 70 to 100 billion in investment), modernize the power industry (2 trillion roubles),”
03.10.2018
Russian Energy Week 2018
Ministerial Meeting "The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries"
The wave of energy connectivity associated with the conversion of most energy-consuming devices to electricity will continue. The growth in electricity consumption will be two-fold, i.e. the generation of electricity from fossil fuels will account for most of this consumption
03.10.2018
Russian Energy Week 2018
Ministerial Meeting "The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries"
Expert forecasts suggest that there will be significant growth in energy consumption over the next two decades. Such growth will amount to roughly 30%, and this is one of the trends
03.10.2018
Russian Energy Week 2018
Ministerial Meeting "The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries"
Global demand for petrochemicals will grow by 6% per year
03.10.2018
Russian Energy Week 2018
Ministerial Meeting "The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries"
Market regulation, which often aims to place insufficiently substantiated restrictions on infrastructure projects, is becoming more stringent. There are new protectionist measures that may be introduced regarding the implementation of major energy projects. This negates the achievements that we have managed to make over the past 30 years, hinders long-term investment, and increases risks for global investors
03.10.2018
Russian Energy Week 2018
Ministerial Meeting "The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries"
Renewable energy sources remain among the most important and dynamic energy sectors. Investments in this sector account for more than half of total investment in the global electric power industry
03.10.2018
Russian Energy Week 2018
Ministerial Meeting "The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries"
Our energy policy aims to expand and deepen constructive and mutually beneficial cooperation with all interested states
03.10.2018
Russian Energy Week 2018
Ministerial Meeting "The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries"
We are opposed to artificial restrictions and sanctions whose causes and motives lie outside the energy sector and which create huge imbalances and uncertainties on energy markets
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
The total gas demand for the period up to 2035 will increase by 40%, and gas trade will grow by 2.6% annually. The total gas supply will increase by 1,477 billion cubic metres
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
Over the past ten years, natural gas production in the worlds has grown by almost 21%, or 640 billion cubic metres. At the same time, world grade increased by 46% and reached 1,134 billion cubic metres of gas
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
In the global gas market, the share of LNG will grow to 70%. In the next decade, we expect consumption to double. The share of LNG in the structure of world trade will grow by 2.3 times, while pipeline gas trade will increase by 15–20%. The excess of demand over supply will create a potential niche in the period from 2024 to 2035 in the amount of approximately 250 million tonnes against the current level of 300 million tonnes
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
Gas will be the most demanded hydrocarbon resource up to 2040 and in the coming decades, because it optimally fits environmental requirements, has huge global reserves, and it is the most feasible production and transportation wise. It will be in demand in many areas of the economy, in the electric power industry, its role will grow in transport, it will be used in gas chemistry
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
As for pipeline gas, we look forward to an increase in its consumption in Europe. Over the next ten years, we estimate the import increase of about 100 billion cubic metres of gas. <…> This year will mark the unprecedented record of gas supply to Europe <…>, the consumers need Russian gas
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
As for limiting the gas supplies from the Russian Federation, we have been hearing about this over the past few years. Nevertheless, Russian gas consumption has been growing, and gas exports are growing annually by 6–7%
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
Recently, both trade wars and protectionist measures have emerged on competitive markets. All this creates risks of uncertainty not only for the gas market but also for the general security and global energy supply
03.10.2018
Russian Energy Week 2018
The Global Gas Market in 2030
Russia holds a large untapped potential in increasing gas and LNG production. Gas demand will continue to grow on the major sales markets, especially in Europe and the Asia-Pacific countries. <…> In Yamal, we have reserves of about 40 trillion cubic metres of gas, and the resource potential allows for the production of at least 115 million tonnes of liquefied natural gas per year. At that, the resource potential allows increasing the volumes of production and pipeline gas supply
12.09.2018
EEF 2018
New Energy Markets: The Far Eastern Vector
Huge energy resources are concentrated in the Far East, about 13% of Russia's oil reserves, and more than 16% of gas reserves. Keep in mind that only 6% of the Far Eastern region has been geologically studied. We have great prospects here, huge opportunities to develop energy, develop oil and gas industry, coal industry, power industry
12.09.2018
EEF 2018
New Energy Markets: The Far Eastern Vector
Speaking about cooperation with the Asia-Pacific region, of course, it is our priority today. The Asia-Pacific market will develop, the economy will grow at a faster pace than the global economy on average. Energy consumption will grow at pace, probably twice as high as the world average. There are objective reasons for this: 60% of the population lives in the Asia-Pacific region, which gives great potential for improving the quality of life
12.09.2018
EEF 2018
New Energy Markets: The Far Eastern Vector
We set ourselves a goal to increase the volumes of liquified natural gas supplies to the global market, given that there is an existing niche for that. Today, the world consumes 275 million tons of LNG, by 2035 this figure will reach, by the humblest estimates, 550 million tons. 70% of this consumption will be in the Asia-Pacific region
12.09.2018
EEF 2018
New Energy Markets: The Far Eastern Vector
The market is influenced not only by the fundamental factors, but also by some geopolitical decisions and actions of individual countries. The market today is largely uncertain, it is hard to predict how the countries that buy almost 2 million barrels of Iranian oil per day will act
25.05.2018
SPIEF 2018
Transformations in the Energy Sector
Year over year, the situation has changed dramatically: during the previous St. Petersburg International Economic Forum, oil price was USD 51.5, while today it is about USD 78, showing growth by almost 1.5 times. A year ago, the reserves exceeded the average five-year value by 23 million barrels. Today they are at zero level and even estimated to be 20 million barrels less,
25.05.2018
SPIEF 2018
Transformations in the Energy Sector
Today it’s still oil that prevails, the second place is taken by coal, and the third by gas. Renewable energy resources take quite a small share. By 2040, it is going to be balanced with all 4 components taking 25%. At the same time, general energy consumption in the world will grow by 30%. <…> Oil consumption will grow from 10 to 14 million barrels per day
25.05.2018
SPIEF 2018
Transformations in the Energy Sector
Priorities for the country development and national goals were stated in the Address of the President of the RF <…>, clearly indicating the need in a technological breakthrough, modernizing all economic sectors, and increasing GDP by 1.5 per citizen. <…> Energy sector development is also a priority. It means that first and foremost we have to provide reliable and accessible supply of energy resources in the domestic market, as well as preserve a leading position at international markets. To this end, the following tasks should be implemented: continue creating incentives to attract investments, create stimuli and stable taxation system
25.05.2018
SPIEF 2018
Energy panel
We all have to think carefully how to come back to market methods of attracting investments. Today investment promotion depends on taxation, cooperation between countries, and modern technologies
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Competitiveness of our energy sector does not depend on the fact that over the past year we have been conducting joint actions, related to market balancing. This is where we have different goals: removal of surpluses accumulated over a number of years in order to ensure stabilizing the situation in the oil market from the standpoint of investment, prices, reducing volatility, ensuring the balance of supply and demand,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Russian gas is not only competitive in Europe. Russian gas is competitive in the Asia-Pacific region and elsewhere. Production cost is less than one dollar. Given that we now actively develop the Northern Sea Route, the transportation route to the Asia-Pacific region will be nearly two thousand kilometers shorter than through the Suez Canal. That increases competitiveness even further. We are ready to compete, we stand for fair, open competition. It seems to us that within the framework of international trade, within the framework of the rules that exist in the WTO, it is necessary to adhere to such rules. It will be better for the consumer, better for the energy security of our entire globe and the humanity,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“We continue to improve our technology in oil refining, to increase the depth of extraction, <…> to develop infrastructure. Transportation is developing: in 2017, railway transportation increased by about 4.5%, airway transportation by 20%. These indicators show that, despite the challenges that we face, despite the sanctions that have been imposed, our economy has actively overcome the difficulties, and we are ready to be attractive for investment into the Russian economy and the Russian energy sector in all areas, starting from extraction, exploration and processing, and participation in high technologies of equipment production, extraction technology, etc.,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“There is no euphoria or any special feelings about the fact that Russian gas is supposed to be supplied to Boston today. That is not Russian gas any longer; Russian gas has been sold. Indeed, the molecules are Russian, but in fact it is the property of other buyers of Russian gas. This suggests that the market is global, and generally the LNG market is becoming more and more global. That is where we have absolute competition. Prices change, suppliers react swiftly: they supply to where a more favorable price is formed at the moment. That is absolutely normal. Cold weather in America, shortages of supply through the pipe, we know it too, the spot price has risen sharply; hence, the tanker was redirected. Tomorrow it will be headed in a different direction. There is no problem here. As the oil market is global, we will soon move towards the gas market becoming just as global in terms of pricing, and in terms of gas supplies, etc.,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Sanctions were imposed in 2014, then they were expanded. From 2014 to 2017 we had increase of oil production by 15 to 20 million, gas production increased,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Even worse than the sanctions is the protectionist trend, when they ban not only their own companies from participating in implementation of the projects, but also those associated with the companies, those who did not impose sanctions,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“A very favorable situation has been created to attract investment recently. We now have a record low inflation of 2.5% in 2017. Economy growth was about 1.4–1.8%. We create the necessarily flexible tax system in order to ensure profitable extraction of deposits, development of oil and gas fields. The next stage is the already prepared draft law on the introduction of the so-called tax on added income, which would allow us to involve a large amount of West Siberian oil in development, our new fields, which are unprofitable for production today. We have the most liberal legislation in terms of repatriation of profits. And that is also a very important aspect for attracting investments into the Russian economy,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Thanks to the sanctions, we learned to recover hard-to-extract deposits ourselves, we have our own inventions in terms of the development of the industry, science, we have commissions,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“To date, Russia has the answers to all challenges [to the energy sector]. Our strategy for energy development implies all those directions, we are in a very favorable geographical position between Europe and Asia, we have the opportunity to supply energy resources to various countries, we aim at diversification, development of relevant infrastructure, development of modern technology, increasing the market share of liquefied natural gas; we aim at developing cooperation with other countries, we actively participate in the implementation of projects worldwide; we are an open country that is ready to provide the conditions for attracting investment into our country, including the energy sector,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Speaking about competitiveness, <…> the cost of extracting our resources is quite low and very competitive, we have huge reserves and large deposits, which extraction cost allow us to be competitive; we have diversified energy supply routes, we have our modern technology, which we began to develop ourselves, often because we, as a matter of fact, were forced to do so by imposed sanctions on certain technologies,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“For Russia, the development of liquefied gas production is one of the key directions for development of the gas industry. Such decisions were made in 2013, when the country’s leaders decided to liberalize the export of liquefied natural gas. Our gas exports have always been monopolized,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“The practice [of interaction with the OPEC and non-OPEC countries] has shown its efficiency, and even if we do not need to take joint actions in the market, we show our willingness, and we see the need to continue communication between the countries that have co-operated and are interacting with each other today. The meetings that take place, they show that it is effective: we exchange information, we can conduct research in various areas that can bring us positivity for our joint actions and positivity for the oil market. We are talking about some kind of informal or formal interaction of analytical, consultative nature. It will be useful for both exporters and consumers alike,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Shale oil will not solve all the problems. Yes, in short term it will cover the consumption increase, but it will not cover the consumption increase entirely,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“We do not accept, we do not understand, and we strongly disagree, when some people come out and say that it is not Russia’s gas that needs to be supplied to Europe, but some other gas, which is much more expensive, because Russian gas allegedly takes up the dominant position there. And in this regard, they pursue the political strategy of reducing the volume of Russian gas supply. But we have been reliably and safely supplying gas for 50 or 60 years, since the 1960s, to European consumers; we are reliable suppliers. We proved it with the entire history of our relations. And, of course, we count on our partners from the European Commission, who now actively oppose the construction and development of the relevant infrastructure, particularly the Nord Stream 2; they take any action so as to ensure that this gas pipeline is never built, so that there is only one infrastructure that is not diversified, not competitive, or so that only liquefied natural gas is supplied from a certain country. It is important to maintain competition, and consumers will benefit from this in terms of quality and reliability,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Our sectors which show positive dynamics, objectively reflect the improvement of the situation in the economy. Speaking of energy sector, 2017 was the record year for our indicators: in the oil industry, we kept production at the 2016 level, because we had an agreement between the OPEC and non-OPEC countries; in the gas industry, the production growth was 50 billion cubic meters, we reached 690 billion cubic meters; in the coal industry, we also broke all-time records as we reached 410 million tons,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“As for LNG exports, the legislation is liberalized, and it is possible to develop and attract private investments in order to develop this sphere. We see great prospects: increase in the share of production, supply and consumption of LNG around the world. According to our estimates, by 2035 the demand for gas will increase roughly by 1.3 trillion cubic meters, while the share of LNG will be the largest in terms of demand. Now the share is 32% in international trade, by 2035 it will exceed 50%. We have a task to actively participate in this process. Russia is the great gas power. Today we have almost 20% of the market in international trade, but the share of LNG is small; we will be working in this direction, attracting investors,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Investors are changing: new investors from other regions took the place of those investors who had been banned from participating in the Russian projects,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“We have a government programme for the development of petrochemicals, and we have a clear understanding until 2035, which factories will be built to process raw materials, and what will be produced. This programme is balanced from the standpoint of Russian consumption, and to exclude dependence on imports of polyethylenes and polypropylenes, and large-tonnage chemical products. We are even ahead of it,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“Our strategy is not only to produce large-tonnage polymers. We still depend on the imports of the final product. The main task is to ensure the production in Russia and the demand for products that will not be used as raw materials for chemical production, but rather the chemical industry itself needs to be developed in order to produce consumer goods ourselves,”
24.01.2018
Russia House 2018
Russian Competitiveness in the Global Energy Sector
“A couple years ago, the total share of foreign investors in oil production in Russia was 25%; today, taking into account the attraction of new investors, new players, including those from the APR, we have already reached the figure of 31%. One third of oil production belongs to foreign investors,”