The energy transition is the central issue of the energy sector of the future

27 february 2018

"At the moment, the share of electric vehicles in the total road transport is infinitesimally small," said the chief advisor to the head of the Analytical Center Leonid Grigoriev, speaking at the 8th Symposium on the development prospects of the energy sector. "It should also be noted that the production of batteries for electric cars results in significant CO2 emissions and damage to the environment. This means that is still a lot of uncertainty about the future of more environmentally friendly transport solutions over the next 5-10 years as there is stiff competition from more efficient internal combustion and other types of engines as well as other solutions for saving energy and reducing greenhouse gas emissions."

The event was held at the headquarters of the International Energy Forum in Riyadh. The symposiums jointly held by the IEF, the IEA and the OPEC are a part of the joint program adopted and initiated by three organizations at the 12th International Energy Forum in Cancun in March 2010 as part of the Cancun Declaration. At the 15th International Energy Forum (Algiers, September 2016), the energy ministers of the member states of the International Energy Forum also adopted the proposal developed at the meeting of the G20 energy ministers (Beijing, June 2016) regarding the continued mutually beneficial cooperation to promote better understanding of international energy forecasts and cooperation between the real sector of the economy and the financial markets.

According to Mr. Grigoriev, it's one of the best conferences on oil and gas problems in the world as it combines very high representation of the countries that produce and export oil, including the OPEC management, representatives of the IEA and the Minister of Energy of Russia Alexander Novak. The central issue on the agenda relates to the impact that the economic growth and rising demand for oil, on the one hand, and the development of new oil extraction technologies, on the other.

The central issue in the modern debate over energy covers the energy transition, which includes concerned efforts to prevent climate change, the expert believes.

Photo: from open sources