Russian singer barred from Eurovision believes she still has chancesSociety & Culture March 23, 8:41
Chain of explosions reported from ammunition depot in UkraineWorld March 23, 8:15
Number of lethal casualties in London terror attack rises to fourWorld March 23, 4:46
Putin proposes extending term of Russia's Central Bank chiefBusiness & Economy March 22, 21:49
Mayor says investigation into London attack is underwayWorld March 22, 21:16
Ukrainian radicals urge Poroshenko to nationalize Russian banks’ subsidiariesBusiness & Economy March 22, 20:51
Peru is back on 2018 Dakar Rally track alongside with Bolivia, ArgentinaSport March 22, 20:08
Three dead, twenty injured in London attack — policeWorld March 22, 19:59
Stadium in Russia's Dagestan to be named after pole-vault queen IsinbayevaSport March 22, 19:19
KRASNOYARSK, February 19. /TASS/. Russia may become the world’s biggest producer and importer of gas in case its price goes down substantially, deputy chairman and chief economist of Russia’s VEB development bank Andrey Klepach said at a breakfast meeting organized by TASS at the Krasnoyarsk Economic Forum Friday. He added that Russia could thus follow Saudi Arabia, which is the world’s top oil producer now.
"I think we could to some extent play the card of Saudi Arabia on the gas market. By competing with shale oil it made a bid for boosting output and slashing prices. Speaking about gas we can play the same role as we have potential for boosting gas output though it’s related to a serious reduction of gas price," he said.
According to Klepach, anti-Russia sanctions stimulated oil and gas companies to develop their own technologies. "I think the situation with sanctions stimulated our oil companies, probably Gazprom to a lesser extent. We’re seriously behind in the technological sphere," he said.
Also, Klepach said he thinks Russia should not get rid of its oil dependency in case it developed technologies. "We’re always undermining the fundamental basic role of hydrocarbons in our economic development, and we’re constantly saying that we should get rid of this dependency. I don’t think we can do this," he said.