The Russian Ministry of Energy does not believe that the demand for hydrocarbons will reach a peak by 2050
Viktor Malshevich, Deputy Minister of Energy of Russia, said in an interview with Sputnik News that the Russian Ministry of Energy does not believe that the demand for hydrocarbons will stop growing before 2050.
Malshevich said when answering related questions: "Of course not, and I have never believed it."
Malshevich pointed out that, for example, despite the significant reduction in coal's share in the global energy balance over the past 100 years, the actual consumption is increasing now. The same applies to firewood, as more than 2 billion people still use it for cooking.
Additionally, he pointed out that although the current demand for natural gas exceeds supply, it is expected that the supply will exceed demand by 2027, and this situation will last until approximately 2030.
Malshevich explained: "In 2027, the natural gas decided to be extracted 10 years ago will be supplied to the market. Then, the plans not adopted during the 'green revolution' period will bring a pause to the market. Therefore, due to the long investment cycle, the market will experience fluctuations from time to time."
The Russian Ministry of Energy pointed out that the consumption of natural gas is generally on the rise, and under these circumstances, Russia will be confident because of its low cost of natural gas production.
According to the draft of Russia's energy strategy before 2050, the production of natural gas will increase. It is expected that the annual oil production will reach 540 million tons by 2050, and the annual natural gas production will reach 900 billion cubic meters.
Original: https://www.toutiao.com/article/1836670882819084/
Statement: This article represents the views of the author himself.