Rosneft Chief Executive Officer Igor Sechin, St. Petersburg International Economic Forum presented a roadmap, the implementation of which will increase the efficiency of the Russian energy sector, provide industrial and household consumers with cheap and affordable energy. This was reported by the press service of the company.
“Today we are ready for the challenges and our resilience is assured despite any pressure, but there are still challenges that will be crucial to provide affordable energy to industry, housing and agriculture.”
The following directions became the main directions on the roadmap: a payment system free of toxic currencies; development of the insurance and logistics system in the fuel and energy complex; availability of credit as a task for the functioning of the banking system; systemic problems and pricing in the electric power industry; restructuring of the tax system; The development of the domestic gas market as a response to the closure of the EU market.
According to Sechin, an international payment and settlement system that will be independent of toxic currencies needs to be established as soon as possible.
“We cannot expect the dollar to replace this or that currency. That’s a question for sovereign states’ Central Banks and local regulators,” he said.
Seçin said that the support of the Central Bank is necessary for the development of the insurance system and cooperation between countries, but the active participation of the market participants themselves is also important. At the same time, he believes that the high cost of borrowing is the main brake on industrial development and, of course, one of the main issues of economic policy.
“It is necessary to reorient the banking system towards lending to the economy, of course, with effective control of inflationary processes,” Seçin said.
Igor Sechin noted that a series of systemic problems accumulated in the electricity sector in the last 10 years led to an increase in electricity prices and exceeded the 200% limit during this time.
“In the same period, the increase in installed power exceeded the increase in demand by two times, which led to a decrease in the installed power usage factor. But all generations, including the derelict and unproductive, continue to get paid for capacity.”
Source: Gazeta
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