Russia adopted new energy strategy
Russia’s new energy strategy, adopted by government today, states that the country’s economy eventually will turn towards the use of alternative energy resources. However, before that, the country will boost production of oil and gas.
The new strategy comes only five years after the government adopted a strategy for the period until 2020. The quick revision of the strategy was needed because of the economic crisis, RIA Novosti reports.
The crisis has resulted in a sharp drop in domestic consumption and major economic losses from reduced oil and gas exports to western buyers. Meanwhile, western countries seek less energy dependence of Russia and boost production of alternative energy.
The new realities in the world energy situation is reflected in the Energy Strategy, which states that also Russia’s economy will turn towards the use of alternative energy. However, that will happen only in the period from 2022 to 2030. The alternative sources of energy include hydro, wind, sun and nuclear power, the document reads.
Three phases are outlined in the strategy: In the period 2013-2013, the consequences of the current crisis are to be overcome; in the period 2015-2022, the fuel-based sector is to be made top efficient and in the period 2022-2030, the economy will be turning towards the use of alternative sources of energy.
The stronger focus on alternative energy will not make Russia abstain from the development and use of the traditional fossil fuel-based energy sources. The document states that new hydrocarbon fields are to be developed both in Eastern Siberia, in the Far East, as well as in the country’s far north and Arctic waters, newspaper Rossiiskaya Gazeta reports.
By 2030, the country will produce an annual of 535 million tons of oil and 940 billion cubic meters of gas, of which respectively 330 million tons and 368 billion cubic meters are to be exported.
A major part of the oil and gas production is to be spent on the domestic market, which by 2030 will consume 80 percent more energy than in the mid-1980s.
In order to reach the ambitious goals, a total of 60 trillion RUB need to be invested in the Russian energy sector. From 2013, up to 5,5 percent of Russian GDP will be spent on the energy fuel sector. How much the government intends to spend on the alternative energy sector remains unclear.
