RAS AL-KHAIMAH, December 5. /TASS/. The world is witnessing the coming of a new coal era, including due to the high energy efficiency of investments in fossil fuels, Rosneft CEO Igor Sechin said at the Verona Eurasian Economic Forum.
"Experienced investors have returned to coal. In fact, we are witnessing the coming of a new coal era," Sechin said. As an example, he cited Glencore, which has received half of its operating income from its coal business over the past two years.
At the same time, Sechin believes that the world is still far from peak demand for fossil fuels.
"Oil accounts for more than 30% of global energy consumption, coal - 25%, gas - 22%, and apparently we are still far from peak demand for fossil fuels," he said.