Novak says Russia not interested in high gas prices

MOSCOW, Oct 13 (PRIME) -- Russia is not interested in too high gas prices, because they will speed up global transition to renewable energy sources, Deputy Prime Minister Alexander Novak told reporters on Wednesday.

“There is competition between different energy sources. If prices for some of them rise, demand for the cheaper ones rises… So we see such risks, and President (Vladimir Putin) has already said today that we are not interested in high prices. The prices should be competitive,” he said.

Novak has not also ruled out that oil prices can rise to U.S. $100 per barrel, but hopes that the prices will be balanced.

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