MOSCOW, April 14. /TASS/. At the current production level, Russia’s oil reserves are sufficient for more than 65 years, while its natural gas reserves are projected to last for 100 years, according to the energy strategy approved by the Russian government.
According to the document, Russia’s oil reserves under categories AB1C1B2C2 amount to 31.3 bln tons. The country accounts for 15% of global oil reserves (ranking third globally) and 10% of global oil production (ranking second).
At the same time, Russia holds the top position worldwide in terms of natural gas reserves under the same categories - AB1C1B2C2 - which total 63.4 trillion cubic meters. In terms of gas production, the document noted that Russia ranks second globally, accounting for 16% of total global output.
The updated strategy expands the planning horizon and takes into account existing challenges, which should allow the oil, gas, coal, electricity, power engineering and related transportation sectors to better respond to the changes taking place in the world, Prime Minister Mikhail Mishustin said.
"First of all, it concerns the domestic economy in order to do everything necessary for its further development," Mishustin stressed.
The activities of the strategy are aimed at accelerating the development of oil and gas processing, expanding the program for the development of the gas supply network in the regions, providing the domestic market with a sufficient amount of oil products at affordable prices for all categories of consumers, The strategy also includes activities to accelerate the implementation of infrastructure projects, to create conditions for redirecting oil and gas supplies to new markets in friendly countries, to increase oil transshipment capacity in Arctic and Far Eastern ports, using the potential of the Northern Sea Route, and to accelerate the connection of the Power of Siberia and Sakhalin-Khabarovsk-Vladivostok gas transportation systems to the unified gas supply system.