“The economy is growing and over the next 15 to 20 years, energy consumption will grow by another 30 %,” Alexander Novak told the session. “In these conditions we have to think above all of energy security.”
And traditional energy sources will be the foundation of energy security in such a scenario.
“Everyone agrees that the share of hydrocarbons will decline, but first of all it will retain the lion’s share in the overall energy balance,” Novak said. “If at this time, hydrocarbons make up 75 %, then, according to different forecasts, that share will decrease by 50-75 %. My conviction is that the share of hydrocarbons will be 70 % between 2040 and 2050.”
