Russia will remain energy superpower - WEC

Russia will remain energy superpower - WEC

Russia will remain energy superpower no matter how international energy industry starts will develop, Secretary General of the World Energy Council (WEC) Christoph Fry said today.

"Russia has huge capabilities. No matter how energy industry will change, Russia was and always will be an energy superpower, because it has not only huge natural and renewable energy resources, but can also offer the world new technologies to develop these energy sources, although there's huge competition in this sphere," Fry noted.

Energy will always have an impact on geopolitical situation in the world, he added.

"Today, half of the world's capital is invested in energy and related infrastructure. If you change direction of these investments, it's obvious that many interests will be affected and it's obvious that this will influence geopolitical situation" he said.

Christoph Fry also said that the Nord Stream-2 gas pipeline, due to its cheap gas, may be a good project for Europe, but the EU may not want to exclude some countries from transit.

“Europe wants to diversify supplies and get cheap gas, and Nord Stream-2 is one of the elements that can provide this cheap gas, which can be used to replace coal as energy source in Europe. So it's good thing,” he stressed.

At the same time, Nord Stream-2 is also a transit route that excludes some countries, and it's necessary to preserve balance of political interests in Europe.

“It's a political issue, and I think that Europe will always approach this political issue from the point of view that no country should lose advantages it has. So this balance should be considered in the context of Nord Stream2," expert said.


Vestnik Kavkaza

on YouTube