Energy security for the world, by Vladimir Putin

By Vladimir Putin

the beginning of 2006, Rusia assumed the G8 presidency. We understand very well that this requires serious work and implies a great deal of responsibility. It is not the organisational activities alone that lie ahead.

..The lack of stability in the hydrocarbon markets poses a real threat to global energy supply. In particular, the gap between supply and demand continues to widen.

In our view, it is especially important to develop a strategy for achieving global energy security. It should be based on a long-term , reliable and environmentally sustainable energy supply at prices affordable to both the exporting countries and the consumers.

The way most people see it, energy security has mainly to do with the interests of industrially developed countries. It should be kept in mind, however, that almost two billion people in today’s world do not enjoy modern-day energy services, while many of them lack access even to electricity. Their access to many benefits and advances of civilisation has been virtually blocked.

Needless to say, energy alone will not solve the poverty problem. At the same time, lack of energy resources throughout different regions significantly hinders economic growth while their unsustainable use may result in an ecological disaster on a global rather than local scale.

New Straits Time