MOSCOW, Sept 27 (Bernama-Xinhua) -- Russian President Vladimir Putin stated that Russia will continue its cooperation with OPEC+ and the Gas Exporting Countries Forum (GECF).
Speaking at the Russian Energy Week, Putin emphasised the importance of these partnerships in managing global oil and gas markets, reported Xinhua.
"Russia is fulfilling its obligations to supply energy resources to the global market. It plays a stabilizing role in it, participating in such authoritative formats as OPEC Plus, and the GECF," Putin said, adding that Moscow will continue to develop cooperation with its partners.
Meanwhile, the Russian president said that domestic companies have managed to divert their oil, oil products, and coal exports.
He noted that the Asia-Pacific region currently accounted for over 60 per cent of Russia's energy exports, while the total share of supplies to friendly countries has reached over 90 per cent.
He further noted that the gas industry was also changing. These changes, according to the Russian leader, would not only entail "redirecting exports from the West to the East but also a significant increase in supplies to the domestic market."
"By the end of the current decade, energy consumption in Russia will grow by an average of 2 per cent, this is approximately the same figure as in the world as a whole," Putin said.
--BERNAMA-XINHUA
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