Russia’s oil, gas resources sufficient to meet growing global demand – Total

Russia’s resources of hydrocarbons are large enough to meet the world’s growing demand for oil and gas in 2007 to 2020, Christophe de Margerie, Total SA’s head, said at the 11th International Economic Forum in St.Petersburg.

“We expect demand for gas to increase further in 2007-2020, which could lead to gas shortages by 2020. Russia has huge reserves and will play an increasingly serious role in filling the need in oil and gas,” he said.
Christophe de Margerie also said that foreign companies’ cooperation with Russian oil and gas producers was of great importance. “We must work in cooperation and jointly, and we must broaden cooperation with Russian companies,” he said. Resources must be developed in an environmentally friendly way, he continued.

Interfax