[000:00:00;00] as a person who has lived a long life, i cannot say that this award is for me some kind of new incentive for some new scientific achievements, but nevertheless, i am sure that i will spend the rest of my life in a much more satisfied state. spoke about those people who do not forget about

eternal values, said, blessed is he. who lives forever, because he probably had good reasons for being bored, but now i’ll say this phrase in the original. so, today, as part of an official visit to kyrgyzstan, vladimir putin is holding talks with his kyrgyz

counterpart. and we are now returning to the moscow manege, it’s the second day of the russian energy week, in the market primarily for consumption, if we take the year 2020, we all remember very well how at that time our demand decreased by 20%, within one month to oil all over the world, we had to react to this, this... did not exist then, it was such a stress that gradually, including the key role played by the opec+ association, which took on took the lion's share of the reduction in supply on the market, reducing oil production in the world by 10 million barrels per day at a time, and this influenced the fact that the market did not collapse, but it gradually balanced, 2021 was

the same as we saw it growing... as for last year, in my opinion, it was an extraordinary year, very difficult, and we all perfectly... understand why we observed global sanctions that were imposed against the russian federation, against the world's largest oil country, and if we take , let’s say the sanctions that were previously introduced in relation to iran and venezuela, that is, this is almost 20% of all production in the world, if we take our three countries together, 1/3 of the reserves that we have together today of the world reserves. and of course, when sanctions are imposed on such major players in the world oil markets, this has a very negative impact on world markets, on the energy balance, and what we saw as a result, last

year, we saw was a huge increase in prices , and the shortage on the market, if we take, let’s say oil, prices last year averaged $101 per barrel, and gas - dollars for about 100 cubic meters of gas and this is of course such a stressful situation, well , we saw a significant increase in consumer costs, the imbalance that was developing in the market, and what, what as for the current year, we are also seeing quite a lot of volatility this year, and if we take, let’s say, the beginning of the year, the market was strong. imbalanced, at the beginning of the year , together with the opec countries, we decided to reduce production by an additional 1.7 million barrels per day, which allowed us to balance the market, was possible, starting

from about the second quarter, today we are observing a more or less stable situation, but i would like to note that we still live in conditions where there are a lot of uncertainties , which affects... the situation on the world oil markets, well, firstly, we, uh, see that the rates of economic growth in the world are significantly lower than they were predicted at the beginning of the year, and if at the beginning of the year the forecast was approximately 3 .5% of world economic growth, then by today's expectations are about 3%, demand certainly affects the state of global energy, discount rates of central banks, the largest... countries of the united states of america, europe, as we see this year, they have increased significantly, this also affects, of course, demand. and of course, well, i already said about sanctions, all of this, of course, led

to the fact that over the past two years, we have observed a global transformation of the world energy market, and this was expressed, among other things, in the violation of those historically established ones. from traditional logistics chains, the supply of energy resources to world markets, russia had to reorient as a result of the sanctions that were imposed, and let me remind you, this is an embargo on the supply of oil to petroleum products, it was necessary to reorient its energy resources to the asian-pacific markets, to other markets , to latin america, to african countries, the global overall balance of demand has not changed, but the chains have lengthened, freight has become more expensive, and there has been a shortage in the market, including the tanker fleet, and this is a separate a whole problem that was solved over the past year and this year, as a result, all

over the course of two years, the market was looking for an equilibrium point, in fact, we found it, as of today, flows of oil and petroleum products. reoriented and but at the same time, what do we see, we see, as a result of disruptions in supply chains , an increase in the cost of delivering energy resources to consumers in the country, an increase in prices for end consumers, which was expressed in rising prices, which was expressed in an increase in the cost of electricity in an increase in the cost of utilities services, housing and communal services, in industry, including for european countries, again this is... a decrease in economic growth rates, which today is one of the fundamental factors that we observe, in my opinion, we have been living for several years now

in conditions of underinvestment in global global energy, if previously approximately $700 billion per year was invested in the oil and gas complex, in the last few years investments in the industry amounted to about $350-400 billion, that is global underinvestment for several years has already been more than... 1 three dollars , and we understand perfectly well that for several more investment cycles, at least, and our colleagues spoke about this, hydrocarbons will occupy a dominant role in the energy balance, therefore for a stable provision of global energy , global energy resources , it is necessary to return investments, it is necessary to create conditions for stable operation of the industry, we are seeing growth" this year

, in my opinion, the increase in demand in the oil market will historically record, if we do not take 2020, the moment of recovery, we expect an increase in oil demand of about 2.4 million barrels, and this, according to experts, will continue, by 2030, it will amount to approximately the total oil consumption in the world, 116 , 118 mil barrels per day, and this means that in today's. conditions, it is necessary to ensure such an increase in consumption of investment resources, and there is some free capacity in countries that have currently reduced production under the opec plus agreement, this is an estimate of approximately 4-5 million barrels per day, but nevertheless, if we talk about global demand growth and those target indicators, then we may experience a shortage of capacity as a result of underinvestment, i would also like to note as fundamental factors that

we see a change in approach to the climate agenda , that is, a decrease, let’s say, in the level of hype that was observed several years ago at all sites, at all international forums, and it has become more reasonable, approaches to assessing the energy transition, that is, that fourth, have become more correct energy revolution that we are currently experiencing, and uh, this can be seen from the statements of global oil companies, from the statements of those leaders and companies and politicians who are already talking about a smoother transition, about a more natural transition, the president also spoke about this yesterday and before this, repeatedly, that there is no need to artificially , let’s say, change the energy balance, this should happen in an evolutionary way, and today we are seeing this, and of course, an increase in the share of

renewable energy sources in energy balance, which in turn will also lead to global changes, and this, in turn, is investment, this is more and more, electric vehicles are being produced and purchased in the world, electricity is consumed, more electricity will be produced, that is, these trends, they in fact, are confirmed and this year, 2023 , we expect, will not be an exception in terms of these trends, but in a more evolutionary way than previously assumed, these are the main observations of the assessment of current situations in energy markets, two sub-questions, one completely news, other philological, news events of the last few days in the middle east, will lead to a short-term or long-term increase in oil prices?

well, sergey, it’s difficult to predict now, i want to say that of course, such conflicts , they affect market assessments, and the same stock exchange quotes, they assess risks, today’s prices that are developing on the world oil markets, this is an objective assessment and those risks, which we also see in the conflict that is developing on in the middle east, if prices are higher, this means that the risks are higher, that is... so far, probably, the risks are not strong and are not assessed as they could be, second, i was listening to you now, correct me, an observer, maybe i i didn’t listen carefully, in my opinion, they only said the word dollar once, well, maybe twice, and you asked yourself what you think, alexandrovich, we count in rubles, and yes, well, the question is clear, really, i ’m not talking about it said, in fact, one of these

global changes that... uh, we're in it year observed, including this purposefully done in order to ensure the stable operation of our fuel and energy complex, this is the transition to settlements in national currencies in trade with our friendly countries, today we have minimized trade with almost all countries there in dollars or euros, but we switched to payments in rubles or in those currencies that - well , are kind of native to our communities, this... is really a trend, and this is a trend not only for our country, we see it in the world is happening, and of course, this is a reaction to the actions that regulators and the us federal reserve system are introducing in relation to many countries, including russia, so of course, this trend will continue to continue, the transition to payments in national currencies, dedollarization, so to speak, of payments world economy. but when, as you said, gradually more and more gradually, excuse the taftology

of the transition to renewable sources, those same electric cars, you hear news from europe that oh, we were in a hurry, let's postpone it for another five years. you’re gloating, laughing, that’s it, tell me, you’re sitting at home, it’s not my opinion that electric cars will be actively introduced into our lives, they are already being introduced more and more every year, if we take, let’s say, statistics from last year 10 million electric cars were sold in the world, but no, but this year already 14 are expected, that is, an increase of 40%, while in the total sales that are planned in the world, the share of electric vehicles will already be 20%. and the question here is purely economic, because the cost of batteries is getting cheaper, becoming more competitive, the range and capacity of batteries will also increase, that is, if before it was a range of 100 kilometers, today cars drive a thousand kilometers, and this means that the competition

for electric vehicles is very serious, it is growing, well and electricity needs to come from somewhere, and for this you still need more hydrocarbons than renewable sources, although it is clear that this is also changing, from this stage, yesterday president putin said that he is not understands, he returned to this thought two or three times, he does not understand the logic, the europeans who decided to conduct the experiment on themselves that they did, but the trend is obvious, the flows have changed direction in any case. the annual demand in pakistan is

about 10 million tons of crude oil and refined petroleum products. in per capita terms , consumption in pakistan is very small, the country's population is 220 million people, and our consumption is only 20 million oil equivalent, this is less than 0, million tonnevival, so the volume of crude oil exports is growing, traditionally pakistan has purchased oil from the middle east, firstly, because it is close, and secondly... because of the quality of this oil, it is very well suited for our refineries. for the first time in july of this year, we received a test supply of oil from russia. we are also quite satisfied with the supply of petroleum products and the quality. in the future, we believe that we

will be able to cover about 10% of our needs by importing russian oil. several years, we intend to increase this share up to 30, 30%, in order to reach this in a few years, we need to modernize our refineries, because now our refineries are not good enough. here we are now sitting, talking, and right now, in parallel with this, we are looking for investments in order to modernize our oil refineries; in the next few years, as i already said, the share of russian oil and petroleum products should increase from 10 to 30%, if this is not commercial mystery, which route

was used to deliver oil to pakistan? as for the oil supply, taking into account restrictions on the tonnage of oil tankers, we we can accept about 50 thousand people, and the oil flowed through the far east or through the black sea, and is it so important for you what flag the tankers fly under? in my opinion, we have already found a solution, weeks ago we received a delivery of 1000 tons with logistics point of view, all issues have already been resolved between ours.

i believe that these issues are also being resolved, i don’t see any problems here, you pay in dollars or in another currency, in the future we are considering the possibility of making payments in other currencies, not in dollars the us, and i think we 'll actually be using these other currencies in the future. we are open to discussion on this issue and we are actually discussing this topic, thank you very much, thank you very much, extremely interesting information about the oil of the islamic republic of iran, and mr. azhi, in principle, it’s paradoxical that iran has been under sanctions for so many years, but despite them, in the oil and gas affairs, you are not just doing business as usual, but moving forward, now, for example, look at the news, the

russian gas hub is being discussed, katra and turkmenistan and iran are being discussed projects related to liquefied gas, expansion of cooperation with russia in other areas is being discussed, but in the energy sector, as you manage to do, i will note in parentheses that i was once in tehran and visited an aircraft hangar, where sanctioned maintenance is being carried out. equipment, you service it, almost better than the manufacturers, but nevertheless, reveal the secret of this paradigm, of this mechanism, like iran, it is so successfully moving in this direction, کنم از جناب آقای نواک، معاون محترم نخست وز یزیر. i would like to start

thank his excellency. russian government for organizing this very important event of the russian energy week, this is a very good opportunity for those active participants in the global energy market, they will exchange views, exchange on the latest technologies that are used in this market, and here are all issues related to this topic, relations with islamic republic of iran, and we are trying to develop these relations by any means, and i, too, as co-chairman of the intergovernmental commission on trade and economic development, we are making great efforts in our various ministries and departments and in many directions.

we have very good achievements in developing cooperation, the presence of large russian powerful companies in the development of our oil and gas fields, this led to the conclusion of memorandums and good contracts, and some of them are given, they are brought to a practical level, and some of these contracts, they led to the production of oil, without exaggeration, so to speak, and oppressive sanctions that have been imposed on the one hand, the united states of iran have been imposed against iran, these are not sanctions, the united nations, we are only under the oppressive, severe sanctions of the united states of america, relying on god, with the help of our efforts, our initiatives of our specialists in the oil and gas industry industry in all directions. in development and production and sales, i want to say that we have become self-sufficient,

we have the capacity to produce 1 billion cubic meters of gas per day, this is more than one more than 21 gas fields, and so to speak, 20 gas fields after the revolution and under the sanctions, we built ourselves, and the capacity of the mpz is greater. we have the ability to produce many turbocompressors , turbogenerators, pumps, as well as their so to speak, equipment that is used in development and production, and the development of oil fields, on the sea, we have

technology in a horizontal line over the past 40 years, which we were under oppressive sanctions, fortunately we were able to become self-sufficient in all sectors, and i want to tell you that not a single foreign adviser in our our facilities are not present, and one more thing, you know, today at the end of 2045, it will be 359 million barrels, this is in accordance with the report that the ceo recently said, in the long term

20:45 the world will have just 16 million oil production , gas , as well as petrochemical products, therefore, taking into account the plans that we have worked on, we welcome all investors, foreign and domestic, just 12 billion dollars last year, just those projects that have been implemented. development and production, we the priorities were classified, these are mainly projects for the production of oil and gas, as well as petroleum products, as well as petrochemical products, for what purpose, and for the comfortable life of our people, as well as

for economic growth, as well as ensuring energy security. and today i can safely say that we produce more than 3 million barrels, and we use some of them at our khpps, and we also export some, and the islamic republic of iran has very rich oil and gas reserves, from the point of view of geographical location, we are located at the junction, at the junction of asia and europe, in the north of iran, there are russian huge large companies russia and turkmenistan, in the south there is qatar, it has the third largest gas reserves, because russia ranks first, iran is second and qatar is third, and fourth - this is turkmenistan, that is, our neighbors have huge rich gas reserves, and we can , so to speak, become a transit point for trade

in energy resources, the sea, so we have a good geographical location, we are neighbors with 17 countries, and 12 of our neighbors also have oil and gas reserves, that's why we we can become a good place for the transit of energy products. as well as the style of our contracts for the development of the field, we have changed this, they are very attractive to investors, taking into account the needs that we see in the global market, it is increasing, we have good

markets for selling our beaten oil, this is our way to god, and also on our qualified people, despite the cruel sanctions that, as you know, the americans are tightening every year, but in general this does not pose any obstacles for our development, the development of our economy, over the last 3 months 19.7% 7%, this just indicates our, our activities, our functions in general in the country, i know, i have been working in the oil and gas industry of iran for 35 years and i want to say that we are as far as we are, if the world can depoliticize the global energy world, in particular oil, that is how successful we can be, so to speak, we will increase energy security, and global trade in oil and gas, of course, it must be protected from political