Novak: the share of oil in global energy balance will decrease

the Share of oil in global energy balance will decrease: this will affect and impact the pandemic, and the growing competitiveness of renewable energy sources, said energy Minister Alexander Novak at a video conference of the World energy Council and the Fund Recongress “COVID-19: to Accelerate the transition to the energy future for all”, which transmits the channel “Russia 24”.

Carbonless energy this trend, and all this will follow. Increasing efficiency and renewable energy, reduced their costs.

“We certainly, obviously, will experience a change in the structure of the energy sector, said Novak. And those predictions that were made earlier on the global energy development will be significantly adjusted. This is a concern, in the first place, changing the way of life.”

because of the new coronavirus the inhabitants of the planet in the near future will reduce car trips and traveling by air: “the recovery is not so fast.”

According to the Minister, previously planned for 2040 reduction in the proportion of hydrocarbon energy by 10% for 20 years. But forecasts revision, “and this proportion will be much less,” said Novak.

the Fear of a new wave of a pandemic restrain the rising cost of oil and fuel demand. The price of Russian and European standard may come off from the $40 per barrel. Fear of the return of the pandemic stopped, and the rising cost of American oil is not above $38 per barrel.