Russia to increase oil and gas exports
Russia will be increasing its gas exports until 2050, Economy Minister German Gref said at a meeting with Latin American ambassadors in Moscow on Wednesday, RBC reports according to RZD-Partner.
He said domestic demand for oil products and natural was growing, increasing by 7 percent over the past six months. "If we synchronize investment and the market, there will be no danger of interruption in gas supplies,” he said.
Gref said Russia would also expand oil exports until 2020-2025, but the supplies would be reducing by about 1 percent a year after 2025 unless new reserves were discovered. "Russia will remain the world’s biggest supplier of oil and gas until 2050,” he stressed.