PRESS: Ministry sees energy threats in US policy, green energy

MOSCOW, Mar 7 (PRIME) -- The Energy Ministry has prepared a draft energy security doctrine of Russia, where it names the U.S. policy and green energy as major threats, Vedomosti business daily reported on Wednesday with a reference to the document.

“The first in the list of external political threats is ‘the U.S. and its allies’ discriminatory policy’ of introducing restrictions on access of oil and gas companies to modern technologies and equipment, restrictions on long-term borrowing, and setting up joint ventures with foreign companies,” the business daily said.

The document provides the example of a recent withdrawal of Exxon Mobil from joint projects with Russia’s Rosneft on the Arctic shelf due to the U.S. sanctions.

Another major threat to the country’s energy security is the abandonment of fossil fuels and a switch to green energy, which means slower growth of energy consumption and changes in the structure of world’s demand in line with improvement of energy efficiency.

Other threats include tougher of competition, emergence of new energy exporters, a higher production of liquefied natural gas, a worsening resource base, contraction of the size and quality of fields, and a low degree of geological exploration, Vedomosti reported.

The ministry also listed a high level of financial burden energy companies and a slow upgrade of infrastructure among the economic threats, as well as a critical technological and scientific lag. All the reasons deprive Russian companies of competitiveness, the business daily reported citing the energy security doctrine draft.

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