MOSCOW: Russia has confirmed that its natural gas reserves will last for more than 100 years, based on current production rates, reinforcing its dominance in the global energy sector.
According to TASS News Agency, Alexander Kozlov, Russian Minister of Natural Resources, revealed that Russia holds one-fifth of the world’s natural gas reserves, totalling 63.5 trillion cubic metres. This places Russia among the world’s top energy suppliers, with vast resources ensuring long-term energy security.
The country currently manages 4,052 licences for geological surveys, exploration, and hydrocarbon extraction, spread across 747 investors in the natural resources sector. These licences facilitate sustained production and expansion of Russia’s energy capabilities.
In addition to gas, Russia ranks fifth globally in oil reserves, holding an estimated 31.4 billion tonnes. Kozlov noted that at the current extraction rate, these oil reserves would be sufficient for 64.5 years, further cementing Russia’s role as a key global energy supplier.
Russia’s energy reserves remain a critical asset in maintaining economic stability and supporting global energy demand. As the world shifts towards sustainable energy, Russia continues to leverage its vast fossil fuel resources while navigating geopolitical and market challenges.
