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Russia set to boost energy exports - Finance Minister Kudrin

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Russia will continue to step up energy supplies to foreign markets, the Russian finance minister said Saturday.
MELBOURNE, November 18 (RIA Novosti) - Russia will continue to step up energy supplies to foreign markets, the Russian finance minister said Saturday.

The EU, dependent for about a quarter of its energy needs on Russian exports, has been increasingly concerned over the sustainability of the supplies, especially after brief disruptions this past winter owing to a pricing dispute with Ukraine, across whose territory most of Russia's natural gas is delivered to Europe.

"No one should have any fears: Russia will continue to increase energy deliveries," Alexei Kudrin said.

He was responding to a question from journalists about whether Europe should be worried over the prospect of declining energy supplies from Russia.

He said Russia has increased coal, natural gas and oil production this year, while the development of new deposits, in particular the Shtokman field off the Arctic shelf, will help increase deliveries to Europe.

"There is no question about reducing [deliveries]," he said. "Russia will continue to have both private and state-run companies [in the energy sphere]."

Kudrin said there are no plans to review the current balance between private and state-controlled energy companies.

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