Energy Ministry Claims Russia Has Hydrocarbon Reserves for at Least 40-50 Years

Tuesday, 04 October 2016

Russia has hydrocarbon reserves for at least 40-50 years, Deputy Energy Minister Kirill Molodtsov told reporters on the sidelines of the St. Petersburg International Gas Forum.

"We have hydrocarbons for at least 40-50 years," he said, commenting on the statements of the head of Sberbank German Gref that the commodity stocks in Russia may be depleted by 2028-2030.

According to the head of Sberbank, traditionally withdrawing from a "mono-resource" conditions [full dependence on oil and gas - TASS]is very painful for the economy.

At the same time he expressed hope that a foundation has already been laid for changing the quality of Russia’s economic growth.

(ITAR-TASS)

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