Igor Sechin, CEO of Rosneft, presented the keynote address titled “Energy transition and the phantom barrel: All of you who enter here, give up hope. Not everyone will be led to a bright future for the global energy industry!”
He presented an analysis of the current situation of the energy market, which is experiencing imbalance.
In his speech, the head of Rosneft paid special attention to the energy transition, which is failing despite the efforts of his followers. According to him, despite about $10 trillion invested in the energy transition worldwide over the past two decades, alternative Energy sources have failed to replace traditional fuels.
Currently, wind and solar power provide less than 5 percent of the world's energy production, and electric vehicles contribute about 3 percent.Over the same period, consumption of oil, gas and coal increased by a cumulative 35 percent, while their combined share in the global energy mix remained unchanged. Heavy investments over the past decades in the development of alternative energy sources have driven fossil fuels out of the energy market. Displacement has not occurred, and the green transition strategy in its current form cannot ensure the sufficiency, availability and reliability of energy sources, Igor Sechin stressed.
The Rosneft chief also noted the need to find new opportunities and ways to develop the global energy sector within the framework of a multipolar world.
Developed countries have made the biggest contribution to the climate crisis, he said, accounting for most of the emissions. Citing data from the United Nations and non-governmental research institutions, Igor Sechin said that developed countries have They account for 65 percent of cumulative emissions, while the richest 10 percent of the world's population are responsible for half of all carbon dioxide.(CO2 emissions.
Meanwhile, the richest 1 percent of the world's population emits twice as much carbon dioxide as the poorest 50 percent, and the entire African continent emits less than 4 percent of the world's emissions.
Furthermore, Igor Sechin underlined that the energy transition should be well balanced and focused on addressing the interests of the majority of people which will ensure growth in energy consumption in the coming years, i.e. in developing countries. He also said That to achieve energy security it is necessary to ensure adequacy, affordability and reliability of energy sources.
Aggressive promotion of the "green agenda" actually means declaring an energy war on the majority of the world's population, and overcoming energy inequality is impossible without reliable supplies of oil and gas, the CEO of Rosneft said.He said that developing countries in Asia and Africa, which have not yet overcome energy poverty, will increase electricity demand. By 2030, due to high population growth in these countries, demand growth in developing countries will exceed overall global consumption growth. Expected to be 95 percent.
In such a scenario, a reduction in global consumption of fossil resources would automatically mean that the problems of hunger and energy poverty would not only persist but get worse.
Igor Sechin said, on the one hand, giving up oil would mean giving up the modern way of life, on the other hand, for many countries, increasing oil consumption means access to the benefits of civilization.He said that the demand for oil is the most More growth is expected in Asian countries, which are Russia's main trading partners.India's economy has made significant progress in recent years. Since 2010, energy demand has increased by 45 percent, making the country the third largest energy consumer in the world.
Over the next five years, India is projected to continue its strong economic momentum and become one of the world's top three largest economies with a GDP of $5 trillion, and will overtake the US in terms of economy size by 2050. .India's end-use energy consumption is set to increase by 90 percent by 2050.
Despite increasing pressure from sanctions, Russia retains its role as one of the leaders in the global energy sector.Taking into account the influencing factors, Russia is realizing its energy development potential and strengthening its position in the global energy market. Recently, President of the Russian Federation Vladimir Putin praised the rapidly growing markets of the Asia-Pacific region. Emphasized the importance of re-orienting Russian exports.
Igor Sechin reminded that the shift of Russian energy exports to Asia-Pacific markets began with the construction of the ESPO pipeline (Eastern Siberia – Pacific Ocean Pipeline) and investments in India's oil and gas sector long before the European markets were closed to Russia. Had started.
Igor Sechin said, currently, the Asia-Pacific region accounts for more than 80 percent of Russian oil exports, and it is already clear that the reorientation of supplies is fully justified. The CEO of Rosneft said, now that " The failure of the “green transition” concept is clear, so we must develop a new strategy for reliable and secure energy supplies tailored to the needs of developing countries.
He presented an analysis of the current situation of the energy market, which is experiencing imbalance.
In his speech, the head of Rosneft paid special attention to the energy transition, which is failing despite the efforts of his followers. According to him, despite about $10 trillion invested in the energy transition worldwide over the past two decades, alternative Energy sources have failed to replace traditional fuels.
Currently, wind and solar power provide less than 5 percent of the world's energy production, and electric vehicles contribute about 3 percent.Over the same period, consumption of oil, gas and coal increased by a cumulative 35 percent, while their combined share in the global energy mix remained unchanged. Heavy investments over the past decades in the development of alternative energy sources have driven fossil fuels out of the energy market. Displacement has not occurred, and the green transition strategy in its current form cannot ensure the sufficiency, availability and reliability of energy sources, Igor Sechin stressed.
The Rosneft chief also noted the need to find new opportunities and ways to develop the global energy sector within the framework of a multipolar world.
Developed countries have made the biggest contribution to the climate crisis, he said, accounting for most of the emissions. Citing data from the United Nations and non-governmental research institutions, Igor Sechin said that developed countries have They account for 65 percent of cumulative emissions, while the richest 10 percent of the world's population are responsible for half of all carbon dioxide.(CO2 emissions.
Meanwhile, the richest 1 percent of the world's population emits twice as much carbon dioxide as the poorest 50 percent, and the entire African continent emits less than 4 percent of the world's emissions.
Furthermore, Igor Sechin underlined that the energy transition should be well balanced and focused on addressing the interests of the majority of people which will ensure growth in energy consumption in the coming years, i.e. in developing countries. He also said That to achieve energy security it is necessary to ensure adequacy, affordability and reliability of energy sources.
Aggressive promotion of the "green agenda" actually means declaring an energy war on the majority of the world's population, and overcoming energy inequality is impossible without reliable supplies of oil and gas, the CEO of Rosneft said.He said that developing countries in Asia and Africa, which have not yet overcome energy poverty, will increase electricity demand. By 2030, due to high population growth in these countries, demand growth in developing countries will exceed overall global consumption growth. Expected to be 95 percent.
In such a scenario, a reduction in global consumption of fossil resources would automatically mean that the problems of hunger and energy poverty would not only persist but get worse.
Igor Sechin said, on the one hand, giving up oil would mean giving up the modern way of life, on the other hand, for many countries, increasing oil consumption means access to the benefits of civilization.He said that the demand for oil is the most More growth is expected in Asian countries, which are Russia's main trading partners.India's economy has made significant progress in recent years. Since 2010, energy demand has increased by 45 percent, making the country the third largest energy consumer in the world.
Over the next five years, India is projected to continue its strong economic momentum and become one of the world's top three largest economies with a GDP of $5 trillion, and will overtake the US in terms of economy size by 2050. .India's end-use energy consumption is set to increase by 90 percent by 2050.
Despite increasing pressure from sanctions, Russia retains its role as one of the leaders in the global energy sector.Taking into account the influencing factors, Russia is realizing its energy development potential and strengthening its position in the global energy market. Recently, President of the Russian Federation Vladimir Putin praised the rapidly growing markets of the Asia-Pacific region. Emphasized the importance of re-orienting Russian exports.
Igor Sechin reminded that the shift of Russian energy exports to Asia-Pacific markets began with the construction of the ESPO pipeline (Eastern Siberia – Pacific Ocean Pipeline) and investments in India's oil and gas sector long before the European markets were closed to Russia. Had started.
Igor Sechin said, currently, the Asia-Pacific region accounts for more than 80 percent of Russian oil exports, and it is already clear that the reorientation of supplies is fully justified. The CEO of Rosneft said, now that " The failure of the “green transition” concept is clear, so we must develop a new strategy for reliable and secure energy supplies tailored to the needs of developing countries.
