No peak of global demand is expected for either oil or gas in the coming decades, said Russian Deputy Prime Minister Alexander Novak, speaking at the session "Global Energy as the Foundation of Economic Growth and Well-Being: In Search of Balance" at the Russian Energy Week.
"Over the past 10 years, the growth in demand for global energy in the world has been around 13-14%. In the next 20 years, these rates will be no less, and perhaps even higher. We will see a 25% increase in primary energy consumption," he added.
The Russian deputy prime minister also stressed the importance of developing not only renewable energy but also hydrocarbon industries, as well as the nuclear industry.
The Russian Energy Week is taking place in Moscow from September 26 to 28. Sputnik is the forum's information partner.