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Russia Must Complete Liberalization Of Energy Mkts By 2030 - Putin


Russian Prime Minister Vladimir Putin has called for completing the liberalization of domestic markets of fuels by 2030.

"No less than 20 percent of energy resources must be traded on exchange floors," he said in his opening remarks at a meeting of the Cabinet on Thursday.

"The emergence of normal, free market rules of play in the fuel and energy complex is to stimulate such crucial spheres of activity as energy saving, reduction of the economy's energy intensity, and the introduction of ecologically clean technologies," the prime minister said.

As he dwelt on the subject of Russia's energy strategy, the prime minister said that its net effect should be a balanced, effective and up-to-date fuel and energy complex possessing a wide safety margin.

He recalled that Russia already had such a plan extending till the year 2020.

"We must ensure continuity and at the same time expand the horizons of planning in the energy industry. In view of the long investment cycle in the fuel and energy complex we must give our companies a chance to draw up long-term programs," Putin said. The new energy strategy is to fully meet the demand of the national economy for energy and to enable the country take a firmer foothold on the world markets.

"There can be no doubts that the internal and external demand for energy resources will be growing again," he added.

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