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    Western Sanctions Will Not Cause Changes in Russia’s Energy Strategy to 2035

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    Russian Ministry of Energy does not plan introducing any changes to Russia's energy strategy for the period of up to 2035 because of the western economic sanctions, Deputy Minister of Energy Kirill Molodtsov said on Tuesday.

    YUZHNO-SAKHALINSK , September 23 (RIA Novosti) - Russian Ministry of Energy does not plan introducing any changes to Russia's energy strategy for the period of up to 2035 because of the western economic sanctions, Deputy Minister of Energy Kirill Molodtsov said on Tuesday.

    "We do not expect the current events to influence the situation. The energy strategy for up to 2035 is being discussed, and as for now it did not undergo any [significant] changes," said Molodtsov at the Sakhalin Oil and Gas conference in Yuzhno-Sakhalinsk.

    Earlier on Tuesday Molodtsov also said that the western economic sanctions will not impede Russia's plans to increase oil shipments to China by increasing the throughput of the East Siberia – Pacific Ocean pipeline to 80 million tonnes of oil per year by 2020.

    Another forecast, made by Molodtsov at the conference, concerned the possible oil prices in 2020. According to the Deputy Minister, in the positive case scenario, the oil prices in six years from now will stand at $100 - $150 per barrel.

    Russian relations with the West have deteriorated over the crisis in Ukraine. The European Union and the United States have been imposing sanctions on Russia over its alleged involvement in the crisis, which Moscow has repeatedly denied.

    The latest round of sanctions against Russia was introduced on September 12, targeting the country's largest banks, oil and defense companies, as well as certain individuals.

    Tags:
    sanctions, energy, strategy, Russian Energy Ministry, Kirill Molodtsov
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