Russian FES maintains leading positions on global markets

The Russian Fuel and Energy Sector intends to maintain its leading positions on world markets under the Energy Development Strategy though until 2035, Energy Minister Alexander Novak said.

The Minister emphasized that maintaining a high level of competitiveness, the Russian FES should provide the demand for innovations, high-tech production, as well as provide high-paying jobs and participate in the development of infrastructure.

Novak reported that last year the Russian FES maintained its leading position on the global energy markets: "We are consistently ranked first in the world in export of gas, we share the first or second place in the oil export, we are the third largest exporter of coal. In general, Russia takes the third place in the world for the production of energy sources, and this largely explains the high proportion of the fuel and energy sector in the Russian economy. Energy sources provide 30 % of the gross domestic product, 39% of all investments in the economy and more than two thirds of export