MOSCOW, October 3. /TASS/. Russia will continue to promote dialogue with oil-producing countries to ensure the stability of this market and create conditions for the sustainable development of the industry, President Vladimir Putin said speaking at a plenary session of the Russian Energy Week.
"The progress of the global energy sector, reliable energy security for the entire planet can only be achieved through global partnership, working under rules which are same for everyone and, of course, via transparent, constructive dialogue among market participants without any political motives," Putin said.
According to him, "the balance of supply and demand in the oil market, achieved through an agreement with OPEC, confirms the correctness of this approach.
"Russia will continue to promote the dialogue of oil-producing countries in order to ensure the stability of the situation on the oil market, create conditions for the sustainable development of the industry, and for implementation of long-term investment plans," Putin said.
Oil demand
Demand on the global market will grow in the near future largely because of the Asia-Pacific Region, he said.
"Oil demand will increase in the foreseeable future and largely on account of consumers in the Asia-Pacific Region," Putin said. Demand is also on the rise in Europe and on the American continent, he added.
It is highly important for Russia to feel trends in the global energy sector "in order to efficiently implement its competitive advantages and shape the common energy space and common energy future," the head of state said. "Only the global partnership, work under common and equally applicable rules and, certainly, transparent and meaningful dialog of market players without any political background can support the progress of the global energy and reliable energy security of our planet," Putin noted. "The balance of supply and demand on the oil market reached owing to the agreement with OPEC confirms that such approach is correct," he said.
"Russia will continue promoting the dialog of oil producing countries to ensure stability of the oil market situation and create conditions for sustainable development of the sector, for implementation of long-term investment plans," Putin said.
The demand for liquefied natural gas is growing, with its global consumption almost doubled during the last decade, the Russian President said. Russia is a proactive player on the LNG market, introduces new producing and processing facilities and implement strategic plans of transport infrastructure development, including infrastructure setup for the Northern Sean Route and development of the icebreaker fleet, "which will enable arranging year-round traffic of vessels in Arctic Russia, including LNG carriers," Putin added.
Russia boosts oil production
Russia has already boosted oil production by 400,000 barrels per day and can increase it further on by 200,000-300,000 barrels daily more, he said.
"We have already increased [oil production] by 400,000 barrels, as we agreed with (our) partners. If necessary, we can add 200,000-300,000 barrels per day," the head of state said.