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Energy ministry claims Russia has hydrocarbon reserves for at least 40-50 years

October 04, 11:20 UTC+3 ST.PETERSBURG
Deputy Energy Minister Kirill Molodtsov has commented on Sberbank CEO German Gref's expectations of Russia's mineral resources depletion in 2028-2030
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© Valeriy Matytsin/ITAR-TASS

ST.PETERSBURG, October 4. /TASS/. 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.

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