Novak told how many years oil will “dominate”

MOSCOW, 14 Oct – PRIME. Hydrocarbons will definitely dominate the global energy balance for more than 50 years, the situation will show further, Russian Deputy Prime Minister Alexander Novak said at the Russian Energy Week.

Russia does not want high gas prices, Novak said

“I can say about hydrocarbons, I have always talked about this – based on the current forecasts that we have, in our opinion, this is probably, and companies can confirm our oil, as you said 100 or 80 years, well, I think, definitely even more For 50 years they will occupy a dominant position in the energy balance, and then it will be possible to see,” the Deputy Prime Minister said, answering a question about how long the world will still need oil.

“You don’t need to be a special forecaster for this, you can look at the history of the last 200 years, how the energy industry has developed, and the same coal in the energy balance was 90% at the end of the 19th century. Today, it has not gone anywhere, despite the fact that oil has appeared “, gas, coal, sun, wind, hydrogen will appear. Today, coal in our world energy balance is 25%. Therefore, everything will be fine,” he added.

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Novak said in January that the share of hydrocarbons in the global energy balance by 2040-2050 would decline, but would remain the lion’s share. Now it is about 85%, and will decrease, according to various estimates, to 50-75%. In his personal opinion, about 70% will remain with hydrocarbons by 2040-2050.

Russian Energy Week takes place in Moscow on October 12-14.


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