Russian Energy Week Forum
October 2, 2019
15:30
Moscow
Russian Energy Week Forum
Vladimir Putin took part in a plenary meeting of the Russian Energy Week International Forum. The Russian leader addressed the participants and answered their questions.
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Excerpts from transcript of Russian Energy Week International Forum plenary meeting
President of Russia Vladimir Putin: Friends, ladies and gentlemen,
I would like to heartily welcome all of you at the Russian Energy Week Forum in Moscow.
As usual, the forum’s participants and guests include heads of the world’s leading companies and industry associations, ministries and agencies, as well as respected professionals and experts. All of you determine the future of the global energy sector.
It is good to see a record number of participants this year. This means that the forum is gaining in popularity. It has attracted 10,500 participants, over 200 companies from 80 countries.
We are confident that this interest is based on a desire to cooperate and to build up trust, which serves to boost the technical and technological progress of the fuel and energy sector and to ensure the world’s energy and environmental security.
We see that the scale and interdependence in global energy is growing alongside its vulnerability, and that instability in some parts of the world affects supply and demand worldwide. We have just talked with the OPEC Secretary General about this.
It is especially important in this context to make use of all the available mechanisms to balance the market and find mutually acceptable solutions based on respect for the interests of all sides.
A good example of this dialogue is the OPEC+ oil production cut pledge, the first ever case of cooperation between OPEC and non-OPEC countries.
By working together, we have achieved a result that satisfies both oil producers and consumers. The deal has created conditions for the further development of the oil sector and for launching new long-term projects.
Russia remains a responsible party to the OPEC+ deal. We are convinced that cooperation will continue to develop. I am referring not only to oil production volumes but also to close cooperation in the introduction of new hydrocarbon production, processing and transportation technologies and the resolution of environmental issues.