Gref has started to focus on China in the energy sector

The head of Sberbank German Gref (right) at a business Breakfast in St. Petersburg

The head of the largest state Bank, German Gref, speaking at a business Breakfast Sberbank “Life after oil” at the St. Petersburg international economic forum, advised Russia not to try to grab the “tail of the passing of the oil era.” According to him, oil and gas as the main fuel sources in the world will depart on the second plan, they will be replaced by alternative energy sources, writes Prime. To them, Russia should actively develop.

Gref noted that for our country, “oil is our everything, is 25% of GDP. And to imagine today the structure of our economy without oil, which has not only direct impact but also indirect contributions to GDP, in attracting investments through consumption, it is impossible, said the head of Sberbank.

Gref said that now formed two points of view about the future of oil and gas. Some believe that the “oil Paradise” would last forever, while others believe in the future of alternative technologies, which by 2030 will help to produce energy, at a price comparable with oil and gas. Moreover, this production will be more effective.

He Gref thinks “for a long time oil and gas will remain as the underlying fuel sources, but the main sources of fuel they will leave on the second plan”. “And of course, oil and gas, probably, all life will be used”, he added. However, in his view, overproduction in the world of oil and gas is obvious. Therefore, Russia should more effectively develop innovative alternative energy, focusing on China, says Gref.

“In Russia, meet the electric vehicles, electric motorcycles as yet an exotic situation. In the same period of time we begin to negotiate with OPEC on whether to cut oil production to raise oil prices, and so on. All this brings a bit sad notes that countries, our neighbors, our competitors are moving towards creating a more innovative economy, the economy of the future. And we, in feeling a little cling to the old oil age, trying to grasp the tail leaving the era of oil and maintain the price level”, said Gref.

According 11.30 MSK cost of a barrel of Brent oil amounted to $47,9.

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