quote:
Address to the Stability, Security, and Sustainability of Asian Hydrocarbon Economics Round Table in New Delhi.Participants: energy ministers of Azerbaijan, China, India, Japan, Kazakhstan, Republic of Korea, Russia, and Turkmenistan.
November 25, 2005.
Asian and Asian-Pacific markets, including the energy market, are the fastest-growing in today’s world.
The International Energy Agency estimates the growth of energy demand in Asia at 3% to 4% annually in oil and 4% to 6% in natural gas, which makes Asia the most rapidly developing market in the world.
…Most forecasts today estimate that global energy consumption will rise by a third in the coming 15 years and by about 45% in the coming 20 years. Global demand for oil might grow by 35 million barrels per day by 2025 (which is 42% higher than today), and for gas – by 1.7 trillion cubic meters per year (which means a 60% increase).
…Currently Russia exports over 90% of its energy to Europe but we are looking more closely at Asian and Pacific destinations. We forecast Asia’s share in Russian oil exports to grow from today’s 3% to 30% in 2020, a proportion corresponding to 100 million tons. Asia’s share in our gas exports could grow from the current 5% to 25%, which would make 65 billion cubic meters.
…At the same time, Russia starts from the premise that the world’s energy market must follow transparent and clear-cut rules. We have published our Energy Strategy, and we abide by its provisions. We do not conceal information about the Russian fuel and energy sector’s development, production volumes and regions of production, pipeline construction plans and our other actions that can influence the global and regional energy situation. We do not scheme against our partners. Nor do we resort to cunning ploys in relations with them. And we expect our partners to behave in a similar way.
Russia is making a play for the Asian market, and Asian investment, in a way the US can’t, unless they want to start exporting oil...
The article is worth reading in full, as it contains Russia's future energy policy, which give a pretty good idea of what they see economically in the future of the world.
Notably absent from the discussion is the US.
Also note Russia is getting the Presidency of the G8 next year. That's an interesting thing considering they were almost totally collapsed in the 90's.
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posted 05 December 2005 05:35 AM
