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MIL OSI Translation. Region: Russian Federation –

During the conversation, the parties discussed possible areas of cooperation in hydrogen energy.

Meeting of Alexander Novak with Chairman of the Board of Directors of the Australian company Fortescue Metals Group Andrew Forrest

Deputy Prime Minister of the Russian Federation Alexander Novak noted that the country is currently paying significant attention to the climate agenda.

“We understand that the energy transition will take place, while Russia intends to remain the leader in the energy market. Despite the fact that the Russian Federation is a hydrocarbon country and today we occupy about 20% of the world oil and gas market, in the future we plan to occupy 20% of the hydrogen market. This is a very promising topic. In addition, we are working on the development of LNG production: not long ago, Russia’s share in the world market was 4%, today it is already about 7%. In the next 10 years, we intend to increase it to 20%. We are also developing renewable energy sources – solar, wind power generation, ”said Alexander Novak.

According to the Deputy Prime Minister, hydro and nuclear power deserves special attention.

Meeting of Alexander Novak with Chairman of the Board of Directors of the Australian company Fortescue Metals Group Andrew Forrest

“We regard nuclear energy as a clean source of energy, which in the future will occupy a significant share of the energy balance. Already today we are the leaders in the construction of large units with a capacity of 1000-1200 MW, today we are strategically working on the creation of small nuclear energy – these are power units from 5 to 100 MW, which, we believe, will be actively used, including for power supply of remote settlements “, – said Alexander Novak.

Following the meeting, the parties decided to create a working group to discuss possible areas of cooperation in hydrogen energy.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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