Russia To Review Long-Term Energy Development Strategy

He noted that the government would probably approve the strategy in the first quarter of 2009, although its final adoption could be postponed in light of the global economic crisis. According to the strategy, investments in the energy industry are to total $1.87 trillion by 2030.

Bushuyev also stated that the parameters of the strategy had been determined on the basis of energy prices from early 2008, before the beginning of the global crisis. He elaborated, however, that there was no need to make amendments to the strategy in light of the crisis, as Russia had always developed according to its own scenario, regardless of changes on global markets.

Author: Ksenia Kochneva