At the Russian Energy Week
International Forum, Russian Deputy Prime Minister Alexander Novak spoke on the
sidelines of the plenary session, presented awards to the winners of the Global
Energy Prize, held talks with foreign partners, and gave interviews to Russian
and foreign media.
Speaking at the plenary
session "The Global Oil and Gas Market: Navigating a Period of
Turbulence", the Deputy Prime Minister spoke about the current situation
in the oil market and the impact of sanctions. The session was also attended by
Caretaker Federal Minister of Energy of the Islamic Republic of Pakistan Muhammad
Ali, Prime Minister of the Republic of Srpska Radovan Viskovic, Minister of
Petroleum of the Islamic Republic of Iran Javad Owji, Executive Vice President
of the Bolivarian Republic of Venezuela Delcy Rodriguez and Minister of Energy
of the Republic of Azerbaijan Parviz Shahbazov.
"The sanctions policy is
designed to restrict economic growth in the countries that the United States
finds objectionable. To an extent, this is damaging, but our countries use it
to gain additional opportunities and promote growth. Even when it comes to
redirecting oil and gas flows, whatever happens happens for the best. Today,
our focus is on the Asia-Pacific region, and we are developing the associated
infrastructure and friendly relations. We see that this region will consume the
bulk of energy resources going forward. In one way or another, we dealt with
this before as well. Our decisions regarding the trunk pipeline infrastructure
and the LNG capacity simply received a slight boost," Alexander Novak
said.
According to Delcy Rodriguez,
the United States has imposed at least 930 sanctions on Venezuela.
"The sanctions system
amounts to blackmail and extortion, and is designed to bury Venezuela's economy
and its political course. Venezuela has lost about 4 billion barrels of oil resulting
in a loss of over $600 billion in revenue. Furthermore, sanctions have impacted
the development of the entire Caribbean region," she said.
Delcy Rodriguez agreed that
the sanctions provided a motivation to Russia and were an opportunity to redirect
its resources to other markets despite the difficulties it had to overcome.
Panel session participants
noted that challenges in mutual settlements in trade can be overcome by
achieving independence from the currencies and financial systems of unfriendly
countries
"There are issues with
mutual settlements and a discussion about which currency can replace the
dollar. My opinion is that we can move towards digital payments using
blockchain technology, and we will then need no world currency. This is a completely
different approach. To achieve this, we need to unite and work together,
including as part of the BRICS association, which is expanding. The BRICS
economy, after the addition of six more countries, will surpass the economies
of the countries that are imposing restrictions on us," Alexander Novak
emphasized.
During the panel discussion,
Alexander Novak presented the Global Energy Prize to scientists from the
People's Republic of China. Zhong Lin Wang, the founder and director of the
Beijing Institute of Nanoenergy and Nanosystems received the award in the
Non-Conventional Energy category, while Ruzhu Wang, Professor of Shanghai Jiao
Tong University, received the award in the New Ways of Energy Application
category.
"The rapid growth in
demand for electricity is among the key global energy trends. The
electrification of transport, widespread use of mobile devices, and increased
access to electric power grids in developing countries are increasing demand
for innovations that simplify manufacturing processes and increase the
efficiency of electric and thermal energy consumption. In this regard, the
winners’ work is at the forefront of global trends," said Alexander Novak.
In 2023, scientists from 48
countries submitted applications for the award, a fourfold increase compared to
three years ago.
During the Forum, Alexander
Novak met with Prime Minister of the Republic of Srpska Radovan Viskovic,
Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov, Executive Vice
President of the Bolivarian Republic of Venezuela Delcy Rodriguez, and
Caretaker Federal Minister of Energy of the Islamic Republic of Pakistan
Muhammad Ali.
During their bilateral
meeting, Alexander Novak and Radovan Viskovic touched upon cooperation in the
oil and energy sectors, as well as terms for the operation of the Brod oil
refinery with Russia’s participation and the prospect of expanding its
capacity. According to Alexander Novak, the parties are discussing signing a
long-term contract for the supply of Russian gas to the Republic and increasing
volumes to meet new generation needs.
During the meeting with Parviz
Shahbazov, Minister of Energy of the Republic of Azerbaijan, the parties
discussed the expansion of cooperation between the two countries in the oil and
gas, electric power and nuclear sectors. The agenda included the possibility of
expanding the Tikhoretsk-Baku oil pipeline for reverse deliveries of Russian
oil to Azerbaijan, as well as the prospects for establishing technological cooperation
between Russian and Azerbaijani companies within the framework of import
substitution policies.
Talking to Delcy Rodriguez,
Alexander Novak thanked her for supporting Russia's position in the political
sphere. The parties discussed interaction in oil and gas projects in the
Republic and preparations for President of Venezuela Nicolas Maduro’s visit to
Russia.
Alexander Novak and the
Minister of Energy of Pakistan held a bilateral meeting to discuss expanding
opportunities for cooperation between the two countries in the fuel and energy
sector.
The Deputy Prime Minister gave
interviews to several Russian and foreign television channels.
The Russian Energy Week International
Forum is a key global platform for discussing current trends in the development
of the modern fuel and energy sector. This event is traditionally held at the
highest level, featuring the participation of leaders from the largest
companies in the energy industry. In 2022, more than 70 events, with the
involvement of over 270 speakers, were held as part of REW. The Forum attracted
over 3,000 participants and media representatives from Russia, as well as 83
foreign countries and territories. The Forum is organized by the Roscongress
Foundation and the Ministry of Energy of the Russian Federation, with the
support of the Moscow City Government.
Official website of REW: rusenergyweek.com. For news about the event and the industry, please follow the official REW page on VK.
Source: Russian Government, http://government.ru/en/news/49784.
