Russian Deputy Prime Minister Alexander Novak: Oil and gas will remain important decades from now According to the Russian official, the share of oil and gas in the world’s energy mix is set to drop from 85 percent to around 65-70 percent, not to 20-30 percent as some experts have forecast Decades from now, oil and gas will continue to account for the majority of global energy consumption, Russian Deputy Prime Minister Alexander Novak said on Thursday. Oil and gas, which currently account for around 85 percent of the global energy mix, cannot be entirely replaced, the Russian official said the Russian Energy Week forum. Oil currently accounts for around 31 percent of the world’s energy consumption, Novak said, adding that “it is obvious we will never move away entirely from hydrocarbons in the coming decades, despite the various projections of the future of gas and oil.” According to […]