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Lukoil CEO calls climate debate main challenge for oil industry

The aggravation of the climate debate in society today is the most significant challenge for the oil and gas industry, President and CEO of Lukoil Vagit Alekperov said

ST. PETERSBURG, June 5. /TASS/. The aggravation of the climate debate in society today is the most significant challenge for the oil and gas industry, President and CEO of Lukoil Vagit Alekperov said in an interview with TASS on the sidelines of the St. Petersburg International Economic Forum.

"Today, it brings instability to the future of our industry. But it has a foundation. We must be responsible producers," he said, answering a question about the main challenges for the oil industry.

According to Alekperov, oil producers are obliged to invest in reducing energy consumption and emissions. At the same time, he said that Lukoil would not abanfon investments in oil. "No, we will not reduce investments in oil and gas production. But at the same time we will develop the electric power industry and reduce emissions," he said.

The 24th St. Petersburg International Economic Forum is being held on June 2-5. The forum’s business program will focus on the global and Russian economies, social issues, and technological development. TASS is the information partner and the official photo hosting agency of the forum.

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