BP forecast: in 2035 Russia to remain world biggest exporter of energy carriers

In 2035 Russia will remain the world biggest exporter of energy carriers. Oil production growth in Russia will depend on the scale of development of the hard to extract fields, senior economist of BP company Christoff Rul told correspondent of ITAR-TACC.

On January 15, 2014 BP resident Robert Dudley and senior economist Christoff Rul presented the annual report “World Energy Outlook” drawn by the company’s experts. The report contains the forecast of the world energy market till 2035.

BP experts believe that in 2035 production of liquid hydrocarbons/oil and gas condensate/ in Russia will total 11 million barrels /1.5 million tons/ a day. This will be 548 million tons a year. In 2012 oil production in Russia totaled 518 million tons and in 2013 – 523 million tons.

According to the BP forecast, in 2035 gas production in Russia will total 79 billion cub. feet /2.2 billion cub.m./ a day or 807 billion cub.m. a year. According to preliminary information, in 2013 gas production in Russia totaled 672 billion cub.m.

In 2035 majority of gas in Russia will be extracted on the traditional fields. Only 5% of total volume will fall to the shale gas, but Russia will occupy the second place after the US on its production.

Natural gas remains the main source of gas for Russia, however, by 2035 its share among the consumed energy carriers will decline to 50% from the current 54%. The oil share will remain approximately the same, while share of coal will go down, BP believes. 

Consumption of energy resources for power generation in Russia will go up by 13%, while in the transport sector increase by 49%, because of growth of number of cars by 2035.—0—