Translation. Region: Russian Federation –
Source: Government of the Russian Federation – Government of the Russian Federation –
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Alexander Novak participated in the panel session "Global Energy Markets: Transformation of Relations and Balance of Interests" as part of the International Forum "Russian Energy Week"
Alexander Novak took part in the panel session "Global Energy Markets: Transformation of Relations and Balance of Interests" as part of the International Forum "Russian Energy Week"
Alexander Novak participated in the panel session "Global Energy Markets: Transformation of Relations and Balance of Interests" as part of the International Forum "Russian Energy Week"
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Alexander Novak participated in the panel session "Global Energy Markets: Transformation of Relations and Balance of Interests" as part of the International Forum "Russian Energy Week"
Deputy Prime Minister of Russia Alexander Novak took part in the panel session "Global Energy Markets: Transformation of Relations and Balance of Interests" as part of the international forum "Russian Energy Week."
The forum traditionally brings together heads of government and ministers, executives from leading companies, experts, and analysts to discuss key global energy trends and define the energy sector of the future. The number and geography of participants are expanding. This year, over 5,000 representatives from 85 countries have confirmed their participation. The main theme of the 2025 forum is "Creating the Energy of the Future Together."
During the panel session, participants discussed the current state and prospects for the development of global energy, issues of balancing interests, energy dialogue between the West and East, and changes in traditional resource supply chains.
"Demand for all types of resources is growing. This trend will continue due to the introduction of electric transport, data centers, robotics, and industrial development. Hydrocarbons will retain their influence despite the development of renewable energy sources," noted Alexander Novak.
Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, emphasized the Kingdom's cooperation with Russia as significant for both countries: "Over the past few years, we have been working together, which has allowed us to develop bilateral relations in a wide range of areas: power grid infrastructure, high technology, tourism, medicine, industry, energy, investment, and education. We look forward to further expanding our cooperation."
OPEC Secretary-General Haitham Al-Gais spoke about the organization's role in the modern world: "OPEC is evolving, as is the world. This is one of our strengths, allowing the organization to serve as a leading forecasting institution. Our research is taken very seriously, especially by the Russian Federation, because our collaboration is outstanding. We focus on economic trends, urbanization, and everything that allows us to conduct accurate analysis."
Responding to a question about Hungary's energy partnership with Russia, Minister of Foreign Affairs and Trade Péter Szijjártó noted: "We take great care in cooperating with our Russian colleagues in the energy sector. Russia has never let us down, and contract terms have always been respected. For Hungary, only one factor is decisive: national interests."
Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum, discussed the specifics of the oil and gas market, noting that additional capacity development and investment will be required after 2030: "By 2050, gas demand will grow by 32%. We believe the golden age of natural gas is still ahead."
Responding to a question about reorienting Russian energy supplies, Alexander Novak noted: "Reorienting to the East is not a forced measure, but rather Russia's strategy, defined by the President. The East is a new center of development, and we are ready to cooperate with this region on mutually beneficial terms."
Deputy Prime Minister of the Government of Vietnam, Bui Thanh Son, shared the progress made in developing LNG infrastructure in Vietnam: "We are coherently implementing gas-fired power plant projects, building 14 gas terminals for this purpose. They should be operational by 2028. We need to diversify LNG supplies for the sake of stability and security in the energy sector. This provides an opportunity to work with foreign partners, including Russian ones."
Turkish Minister of Energy and Natural Resources Alparslan Bayraktar emphasized the importance of reliable supplies at affordable prices: "Turkey's approach is energy independence and carbon neutrality by 2050. It is important for us to adapt to the global situation and utilize all available opportunities: renewable energy, hydrocarbons, and nuclear energy."
Foday Mansaray, Director General of the Presidential Petroleum Authority of Sierra Leone, noted that cooperation with Russia is of paramount importance: "At the Russia-Africa Summit, our President, together with Alexander Novak, agreed to establish a working group on cooperation. Our partnership will be mutually beneficial for both countries."
Deputy Prime Minister of the Republic of Belarus Viktor Karankevich noted the specifics of the technological transformation of the country's fuel and energy sector: "We are strengthening technological sovereignty, developing industry and nuclear energy, and carrying out a large-scale modernization of the electric grid infrastructure. All of this allows us to achieve our main goal—improving the standard of living."
Concluding the discussion, Alexander Novak noted that the search for new sustainability in the global energy sector is a balance of interests. "Sustainability means ensuring the energy sector continues to develop, ensuring the well-being of its citizens, and Russia supports a joint search for solutions to these issues."
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