Russia rules out cutting fossil fuel production in next few decades
Source: The Guardian
Russia rules out cutting fossil fuel production in next few decades
Energy minister says Moscow will also focus on clean-burning hydrogen and carbon capture
Jillian Ambrose
Sun 1 Nov 2020 13.24 GMT
Last modified on Sun 1 Nov 2020 19.32 GMT
Russia has no plans to rein in its production of fossil fuels in the coming decades despite the global efforts to shift towards low-carbon energy, according to its energy minister.
Alexander Novak told the Guardian that Russia did “not see that we will achieve a peak in (gas) production anytime soon” because the world’s appetite for gas would continue to grow in the decades ahead despite its growing number of climate targets.
Instead, during a crucial decade in the battle to keep a lid on rising global temperatures, Russia will pair a 50% growth in gas production with plans to become a global leader in producing clean-burning hydrogen and developing carbon capture technology.
Russia intends to ramp up gas production from its vast and inexpensive reserves to reach 1tn cubic meters a year by 2035, from just under 680bn cubic meters last year.
It also plans to increase the amount of gas it exports on giant super-chilled tankers more than four-fold, from 29m tonnes a year to 120-140m tonnes, while continuing to send about 200bn cubic meters of gas to Europe via pipelines including the politically contentious Nord Stream project.
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Read more: https://www.theguardian.com/world/2020/nov/01/russia-rules-out-cutting-fossil-fuel-production-in-next-few-decades
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