For Russia, the world still needs oil

(Ecofin Agency) – Russia does not intend to align itself with the recommendations of the International Energy Agency (IEA), which call for an immediate end to spending on oil and natural gas in order to achieve quickly carbon neutrality.

For the Eurasian country, one of the largest oil producers in the world, the Agency’s recommendations are ” unrealistic », And the future is rather a mix between fossil and renewable energies. In any case, this is the position defended last week by Russian Deputy Prime Minister Alexander Novak.

« In my opinion, this is a simplistic method. In addition, it is not realistic “, Declared the Russian leader about the recommendations of the IEA, according to a translation of remarks collected on the sidelines of the International Economic Forum of Saint-Petersburg, by the CNBC media. “I can assure you that the Russian Federation, its plans, its strategy [est de] continue to invest in oil, gas and coal. But we’re also investing in renewables, hydrogen, electric cars and electric charging stations, so we see the next decade as using a mix of renewables and fossil fuels ”, he added.

A position shared by Saudi Arabia, which does not intend to reduce its production either, despite the pressures to migrate to renewable energies, within the framework of the Paris Agreement.

Saudi Arabia “Produces low-cost oil and gas and produces renewable energy. I urge the world to accept this as a reality: we are going to be the winners of all these activities ”, had indeed declared on this subject a few days earlier, Prince Abdulaziz bin Salman, Saudi Minister of Energy.

These positions antagonistic to those of AIE are doubly appealing in Africa. On the one hand, by showing that large producers defend their economic interests in the face of climate issues. Knowing that several African countries also benefit from or depend on oil revenues, in particular Nigeria, the continent’s largest economy, or even Angola, Algeria or the Republic of the Congo. And that several of them are also positioning themselves for the supply of LNG (liquefied natural gas), the product which mainly drives the “energy transition” for the time being.

At the same time, Africa, which contributes the least to pollution in the world, is one of the regions most affected by the consequences of climate change.

Ayi Renaud Dossavi

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