MOSCOW, September 27. /TASS/. Russia supports the concept of the Closed Carbon Cycle Economy based of renewable resources, Russian Energy Minister Alexander Novak sais on Sunday at a meeting of Group of Twenty energy ministers.

"I would like to thank, first of all, Saudi Arabia for high-quality presidency (in the Group of Twenty - TASS) and offering a G20 energy agenda, in particular, for the focus on the concept of the Closed Carbon Cycle Economy geared to promote cleaner energy systems," he said.

"Russia generally supports the closed carbon cycle economy concept, which envisages a comprehensive and all-round approach to the sustainability of economic growth and development and is a viable benchmark for the future, reckoning with the economic, political and social contexts of all the Group of Twenty nations," Novak added.