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Energy transition should be soft and not lead to energy deficit — Putin

The Russian leader noted that investments in hydrocarbon output are now declining all over the world

MOSCOW, November 30. /TASS/. The energy transition should be soft and not lead to growing prices, Russian President Vladimir Putin said at the plenary session of the 13th VTB Capital Investment Forum "Russia Calling!".

"This transition should be soft and should not lead to such price surge that we are now seeing in the global energy sector - this does not lead to anything good in the end," he said.

Putin noted that investments in hydrocarbon output are now declining all over the world. "What would this lead to? To a deficit," Putin added.

Director General of Rosatom Alexey Likhachev said in an interview with TASS earlier that nuclear power can play a significant role in the international efforts to reach carbon neutrality. "Russian President Vladimir Putin made an important statement about the country's plans to reach carbon neutrality by 2060. Nuclear energy can play a significant role in these efforts," Likhachev said, recalling that under the president’s orders, the share of the peaceful atom in the energy balance must be increased to 25% by 2045.