ST. PETERSBURG, June 21. /TASS/. Global energy security is directly tied to the supply of liquid hydrocarbons from Russia, Iran, and Venezuela, Rosneft CEO Igor Sechin stated during the energy panel at the St. Petersburg International Economic Forum (SPIEF).
"Russia, Venezuela, and Iran are key players in the energy market, and global energy security directly depends on their supplies. These countries account for one-third of the world’s liquid hydrocarbon reserves and 15% of global production. Without their resource base, a transition to a new global energy paradigm is impossible," Sechin said.
Sechin noted that Russia’s actual contribution to the global economy is proportional to its share in the world’s resource balance, which amounts to approximately 15% in hydrocarbon exports.
However, Russia’s resource base extends beyond hydrocarbons to include metals, the Rosneft CEO stated. For instance, Russia accounts for about 10% of global gold production, and its share in the production of metals such as high-grade nickel and palladium reaches up to 20% and 40%, respectively.
"Additionally, Russia holds approximately 10% of the world’s rare earth metal reserves, which are indispensable for the development of modern technologies," he added.
About the forum
The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.
The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.
The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.