“That will enable us to reduce emissions, improve the climatic situation and fulfil orders for science and industry.”

    The session was moderated by Sergei Brilev, President of the Global Energy Association.

    Students from Russian higher education institutes took part in “Dialogue among equals”, including the Tomsk State University, the Kazan State Power Engineering University and the Peter the Great St. Petersburg Polytechnic University.

    The main topic under discussion was opportunities for the Russian economy provided by the energy transition. 

    Novak said there was a new impulse for the use of nuclear power – as one of the sectors with the lowest carbon content — against the background of increasing emphasis on climate issues. And modern technologies offer opportunities to actively use small nuclear reactors – both land-based and floating. 

   The transition to electric vehicles leads to higher demand for lithium, with reserves lying in waters near oil and gas fields and salt deposits. In Russia, a project is being developed to produce lithium from underground mineralised water from the Kovyktinsky deposit. Gazprom and the Irkutsk Oil Company are taking part in this project. 

    The energy transition is driven by a bid to improve the quality of life – and that leads to higher demand for petrochemical products. And in this way, the oil industry will gradually transition to production of more costly goods in greater demand. Innovations in energy could provide further opportunities, particularly in the field of energy storage.

    “In general, the energy transition must be consistent, but at the same time balanced and orderly. Any transition to renewable energy sources based on directives will lead to price rises,” Novak said in conclusion.