Russia aiming to ensure carbon neutrality of its economy by 2060: Vladimir Putin

Addressing the plenary session of the Russian Energy Week International Forum, President Vladimir Putin asserted that country will try to achieve carbon neutrality by 2060. Putin said that actions need to be taken to achieve carbon neutrality of its economy, Kremlin said in the press release. He added that they aim to achieve carbon neutrality not more than 2060.

"I would like to add that Russia will take practical action to ensure the carbon neutrality of its economy, and we have set a specific benchmark: no later than 2060," Kremlin quoted Vladimir Putin as saying. 

In his speech, Putin revealed that they expect to increase production of liquefied natural gas to 140 million tonnes a year by 2035 in Russia. They also plan to boost their position in the International market and occupy about 20 per cent of it. In addition, Russia hopes to increase the share in global petrochemical supplies from the current 1 per cent to 7 per cent by 2035, Kremlin said in the press release. He added that in the next few decades, hydrogen and ammonia will enhance their position in the International power industry. 

While speaking at the plenary session of the Russian Energy Week International Forum, Putin highlighted that the average annual temperatures have been witnessing an increase of 2.5 times faster than overall global temperatures in Russia. He underlined that Russia supports the international initiative to preserve the climate and has been fulfilling its commitments.

Putin underlined the impact of the COVID pandemic on the energy sector. He mentioned that the COVID pandemic has led to restrictions, business slowdown, halt of production activities and transport activities, which have resulted in the decline in demand for energy resources. He revealed that last year results have shown that the global primary energy consumption has witnessed a reduction by 4.7 per cent.

Russian President also expressed his views on the gas market in Europe. He mentioned that Europe has been witnessing a rise in natural gas prices due to shortages of electricity. Furthermore, he underscored that such problems do not exist in Russia. He expressed that Russia is fully committed to meeting its contractual obligations to all its partners, including Europe. 

(Image: Twitter/@KremlinRussia_E)