• 2018 April 10

    Alexander Novak, Energy Minister of Russia

    On energy development in Russia

    - Over the recent 6 years, oil production has not plunged as it had been expected but has rather increased, by 35 million tonnes per year...

    Timely tax arrangements focused on enhancement of production let us develop new remote offshore areas, boost dealing with hard-to-recover reserves, those previously considered as unprofitable. During this period we have taken a major step towards implementation of our LNG potential. LNG. We have considerably upgraded and expanded our infrastructure possibilities. The scope of annual investments in oil & gas sector has grown over 2-fold during the recent 6 years. Gasification of the country continues, development of gas fuel market is underway ...

    In 2014, we developed a Programme for the development of Russia’s coal industry till 2030. It is being implemented successfully with key indicators exceeding the forecasts. Development of new facilities is underway in the eastern regions of the country – in Yakutia, Khabarovsk and Primorsky territories in Transbaikal and Sakhalin.

    From the final meeting of the Energy Ministry’s extended panel