MOSCOW, October 11. /TASS/. Shrinking investment in oil and gas production globally have triggered the recent energy crisis, Gazprom Deputy CEO Oleg Aksyutin said at the Russian Energy Week forum.
"The prevailing winds are moving in the direction of an end to the oil and gas era, toward accelerating an energy transition away from oil and gas, and that everybody should achieve net zero carbon emissions by 2050, and this can only be achieved by totally forsaking fossil fuels. Most importantly, these [energy agenda] items are essentially part of a imposed scenario that has been declared as the final [indisputable] truth. Countries have made decisions in this area, while banks have reacted to the [dogmatic green narrative] as well as investors, who have ceased to put money in oil and gas industry development," the senior executive said.
"For reference purposes, investment over the past two years has been at the lowest level for the past 15 years. This laid the basis for the crisis we are now seeing in the global economy. This is no accident; it’s a pattern. We believe this is a short-sighted policy being pursued by organizations, companies and countries," Aksyutin added.
TASS is the information partner of the Russian Energy Week forum.