Roman Marshavin on the dynamics of oil and gas production in Russia by 2050

Russian Deputy Energy Minister Roman Marshavin said that by the middle of the century, Russia&s annual oil production will reach about 540 million tons, and gas production will reach about 900 billion cubic meters. This reflects the confidence of the Ministry of Energy in the continued steady growth in demand for hydrocarbons, even in the long term.

Current global trends in the use of hydrocarbons and fuels

Despite the fact that over the last century the share of coal in the total global energy balance has decreased significantly, the absolute volumes of its consumption remain above previous levels, Marshavin noted. A similar situation is observed with wood: today, more than two billion people still use wood fuels, mainly for cooking, which underlines the importance of traditional resources.

Dynamics of the natural gas market

The Deputy Minister drew attention to the existing shortage of natural gas in the current market. Nevertheless, according to forecasts, the situation will change by 2027, when supply volumes exceed demand — this trend will continue until about 2030.

"In 2027, the gas infrastructure will be replenished with projects approved ten years ago. After that, there may be a pause due to a lack of new investments against the background of an accelerated transition to "green" energy. Due to the long investment cycle, the market will experience periodic fluctuations," Marshavin explained.

Russia&s prospects in the gas market

Of course, the Ministry of Energy records a steady increase in gas consumption in the world. Due to its technological efficiency and low production costs, Russia is able to firmly maintain its leading position and actively increase production volumes in the future.

In accordance with the draft Energy Strategy until 2050, the country plans to continue a large-scale increase in hydrocarbon production, setting the pace of development of the industry in a changing global energy environment.