Friday, November 27, 2020
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Russia approves the 2035 national energy strategy

Russia approved the new national energy strategy valid until 2035, which considers the fuel and energy complex as a pillar of the national economy and a substantial portion of budgetary proceeds.

“The fuel and energy complex should make a maximal contribution to our country’s socio-economic development and assist in strengthening Russia’s position in the global power economy,” said Prime Minister Mikhail Mishustin. “It is especially important now when the oil and gas markets are highly volatile. The global economy is facing a slowdown and the demand for energy sources is falling. But this crisis, partly caused by the spread of the coronavirus, will come to an end like all other crises. We should work for the future, and correctly assess the changes that are taking place in the global energy sector with regard to the development of technology, production patterns and demand. We should already plan our actions for the period of the recreation of the global markets, and build the state’s energy policy.”

According to the draft law, the strategy will be implemented in two stages. The first one, until 2025, will be aligned with the existing state programmes, and most importantly, with national goals, national projects and the comprehensive plan for modernisation and expansion of backbone infrastructure.

The production of liquefied natural gas (LNG) will be further developed, thanks to a new LNG cluster on the Yamal and Gydan peninsulas which will be followed by a development of the gas transportation infrastructure.

According to the Energy Minister, Alexander Novak, the energy strategy will increase the level of gasification of the country up to 83 per cent, while ensuring the best quality of supply to the consumers, at the same levels as Western competitors.

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