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Outcomes of the V International Forum "Russian Energy Week"

Research
27 December 2022

The main meaningful outcomes of the V International Forum «Russian Energy Week».

Analysts of the Roscongress Foundation have identified the main theses of this study, accompanying each of them with a relevant piece of video broadcasts of panel discussions held as part of the business programs of key events held by the Foundation.

The global energy market is rapidly transforming in a new reality.

Over the past few years, enough factors destabilizing global energy and energy markets have accumulated: from natural surges in demand and supply during lockdowns to terrorist attacks on cross-border energy infrastructure facilities. Under these conditions, the transformation of the energy market on a global scale is not an artificial element of the economic war, but an objective necessity.

The Forum actively discussed the formation and development of new supply chains in the energy market. The creation of a gas hub in Turkey, more active involvement of the BRICS countries in international energy trade, energy supply to the emerging markets of Southeast Asia, efforts to reduce the energy deficit of the countries of the African continent are just the main trends in the transformation of the global energy market.

Such large-scale changes require many coordinated measures and the implementation of international energy cooperation projects. The current agenda includes the construction of a new logistics infrastructure, and agreed pricing in national currencies, and the provision of financial services (insurance, leasing, etc.) to market participants, and, of course, the development of renewable energy.

Video: https://roscongress.org/sessions/eef-2022-novaya-struktura-mirovogo-ekonomicheskogo-sotrudnichestva-chto-stalo-luchshe-a-chto-khuzhe/search/#00:18:22.591

Technological support is a key condition for the development of world energy markets in the new conditions.

The dependence on imports of foreign technologies has decreased in the Russian energy sector by one and a half times since 2014, to 40%, but this figure still does not allow us to talk about the technological sovereignty of the Russian fuel and energy complex. And we are talking not only about industrial equipment of extractive industries. Digital security for the energy sector, stock indices and trading platforms, legal support for doing business in the energy sector — all this needs to be substituted from import in order to ensure the technological security of the energy market. This is relevant not only for the extractive, but also for the processing industries, especially for the petrochemical industry.

Video: https://roscongress.org/sessions/rew-tek-rossii-v-usloviyakh-sanktsiy-pomogli-ili-pomeshali/search/#00:40:32.256

Balancing the traditional energy markets, one should not forget about the creation and development of new ones.

«Green» energy is still the goal that facing the entire world community. The growth of geopolitical tension and the number of interstate disagreements will in no way affect the relevance of the current climate challenge, it is only growing.

In this regard, the Forum participants actively discussed the prospects for the development of gas, hydrogen, and hydropower. The problem of energy efficiency was discussed separately, especially in the sphere of housing and communal services. The ESG agenda, carbon landfills, carbon units and other renewable energy sources have also found their rightful place on the Forum’s agenda.

Video: https://roscongress.org/sessions/eef-2022-klimaticheskaya-povestka-vyzovy-i-vozmozhnosti-v-novoy-realnosti/search/#00:19:20.959

We also invite you to familiarize yourself with other materials posted in special sections of the Roscongress Information and Analytical System Power generation, Oil and Gas, Exploration and mining and Globalization/regionalization dedicated to the development of energy in the current conditions.

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