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Russia, OPEC to discuss climate change — energy minister

Russia committed to voluntarily restrict greenhouse gas emission to 70-75% of the level of 1990 by 2030 as part of the Prague agreement

VIENNA, October 24. /TASS/. Russia and the countries of OPEC intend to discuss climate change as part of the Russia-OPEC energy dialogue, Russia’s Energy Minister Alexander Novak said at a meeting.

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Russia will not fast-track ratification of Paris Agreement on climate change

"A specific topic for consultations today is the uncertainty around the environmental policy," he said,

"Russia welcomes environmental process and is one of its most active participants," the minister added.

According to him, solutions to environmental issues are yet to be found and that the oil exporters are holding intensive discussions on this topic.

Novak reminded that as part of the Prague agreement Russia committed to voluntarily restrict greenhouse gas emission to 70-75% of the level of 1990 by 2030.

The minister notes that the age of hydrocarbons is not over and the consumption of oil and gas will only grow, but slower than the growth of global GDP due to the process of energy consumption.

The growth of demand is in particular linked with the spread of petrochemical products in the sector of consumer goods and services and production processes, Novak said.

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