Gas to remain most valuable resource with increasing demand — Putin

Business & Economy February 17, 2023, 15:29

In this regard, the Russian president added, "further growth of the huge gas-industrial complex already established in the country's east" is truly strategically important for Russia

NOVO-OGARYOVO, February 17. /TASS/. Russian President Vladimir Putin is convinced that natural gas will remain a valuable resource with high demand for a very long time, he said on Friday at an event dedicated to the holding's 30th anniversary.

"Particular tasks and new initiatives are being developed by Gazprom based on expert, extensive analysis and forecasting of changes in global market trends. And they say that gas has been and will continue to be the most valuable resource, a real asset whose demand will only increase," he said.

Putin stated global gas consumption has nearly doubled in the last 30 years, and it is expected to increase by at least 20%, if not more, in the next 20 years. "In the so-called transitional phase, demand will be huge, and Asia-Pacific countries will account for more than half of this growth, especially, of course, in China, given its economic development rate," Putin stated.

In this regard, he added, "further growth of the huge gas-industrial complex already established in the country's east" is truly strategically important for Russia.

The president added that Gazprom’s plans match the national interests of Russia as one of the sovereign centers of the multipolar world. "Gazprom's long-term goals are always looking forward, strategizing for years, if not decades. It is obvious that the implementation cycle of your projects is fairly long, and this completely matches Russia's national interests, ambitions, and priorities as a great power, one of the sovereign centers of the multipolar world," Putin said.

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