Vladimir Putin addressed the plenary session of the second Russian Energy Week Energy Efficiency and Energy Development International Forum.

The forum is taking place in Moscow on October 3–6. Its main theme is Sustainable Energy for the Changing World.

The forum will be attended by representatives of the largest international companies and organisations, and leading experts. About 60 business events will be held within the framework of the official programme.

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Speech at the plenary session

President of Russia Vladimir Putin: Friends, ladies and gentlemen, colleagues.

I am very happy to welcome the participants and guests of the Russian Energy Week. This time, we have a record number of participating experts, people interested in power engineering – nearly 10,000, or more precisely 9,500 participants. You came here to hold an open and trust based discussion on the issues of the global energy agenda.

Russia is one of the most powerful players on the global energy market. We are among the leaders in oil and gas production and export, as well as in terms of power generation and coal mining. It is highly important for us to keep track of global energy trends in order to use our competitive advantages efficiently and, together with other countries, create a common energy space and a common energy future.

We believe that progress in global energy, as well as the stable energy security of our entire planet, can only be achieved through global partnership, working in accordance with general rules that are the same for everyone, and, of course, through conducting transparent and constructive dialogue among market players which is not politically motivated but is based on pragmatic considerations and an understanding of shared responsibilities and mutual interests.

The balance of supply and demand in the oil market reached owing to the agreement with OPEC reaffirms the correctness of this approach.

Russia will continue promoting dialogue of oil-producing countries to ensure the stability of the oil market and create conditions for the sustainable development of the sector and implementation of long-term investment plans. Indicatively, the demand for oil will be growing in the foreseeable future, primarily in the Asia-Pacific region. It is also growing in Europe and of course, in America.

I think Russia’s responsible partnership approach stands out and is understandable to everyone. Russia is implementing it in the gas market as well, providing an example of reliability and predictability. Our advantage is not limited to the tremendous deposits of natural gas. We also have delivery systems and the pipeline infrastructure, which together with low cost ensures the stable positions of pipeline gas in the market.

At the same time, as we know, trade in liquefied natural gas (LNG) is also increasing. In the past decade its consumption almost doubled.

Russia is an active participant in the LNG market. We are putting into operation new producing and processing capacities, carrying our strategic plans for the development of transport infrastructure, including the Northern Sea Route, and building an ice-breaker fleet that will allow us to organise year-round transit of ships, including gas carriers, in the Russian Arctic.

One more major area of the world’s energy sector is the coal industry, which has been demonstrating positive dynamics again. Just a decade ago few people believed in the prospects of this energy carrier but now we are seeing a steady growth in the demand for coal, first and foremost in the Asia-Pacific region. It is very important for Russia to consolidate and enhance its presence on this dynamic market.

We have already made a number of strategic decisions in this area. We are expanding the capacity of the Baikal system and the Trans-Siberian Railway, building up seaport infrastructure and working to make coal mining more effective and safe. And, of course we will pay special attention to eco-friendly technology of its transportation and consumption, including in electricity generation and other areas.

We will continue upgrading heat generation in Russia on a large scale and introduce digital solutions in the national power grid. We see these measures as a response to global challenges that are facing the electricity generation industry as a whole.

Accelerated demand for electricity in the world is forecasted for the next 20 years. Experts believe its consumption will double by 2040 while the demand for primary energy – oil, coal, gas and other sources – will grow by about 30 percent. Such trends are opening up opportunities for increasing both the exports of electricity and its production technology.

We have one more priority: to preserve the lead in such high-tech sector as the nuclear power industry. Today, Russia is actively building 25 energy units at nuclear power plants in 12 countries. In all we have 36 such energy units in our portfolio. We will be consistently working to increase the number of export orders in the nuclear power industry, complying with the highest requirements of environmental and industrial security

A separate ambitious task for the future is the development of renewable energy sources, especially in remote, difficult-to-access areas of this country, such as Eastern Siberia, and the Far East. This is opening a great opportunity for our vast country, the world’s largest country with its diverse natural and climatic conditions.

Friends, in conclusion I would like to tell you the following: sustainable and steady development of the energy industry is a key condition for dynamic growth of the world economy, enhancing living standards and improving the wellbeing of all people on our planet.

Russia is open to cooperation in the energy industry in the interests of global energy security and for the benefit of the future generations. And we certainly rely on active dialogue on these subjects and cooperation.

Thank you for your attention.

To be continued.

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