Alexander Novak was reappointed for compelling reasons - energy expert

The reappointment of Energy Minister Alexander Novak from Dmitry Medvedev's Cabinet to Mikhail Mishustin's Cabinet was one of the most anticipated events in the process of forming the new government, Deputy director of energy policy of the Institute of Energy and Finances Alexey Belogoriev told Vestnik Kavkaza.

"Novak is highly appreciated by President Vladimir Putin and his government colleagues. He has built fairly good relations with most of the leaders of fuel and energy companies. Novak is also attributed a major role in creating and implementing the OPEC + agreement, which means increase in oil prices and attracting additional revenues to the budget," the energy expert said in the first place.

"In addition, Novak proved himself to be a really talented administrator. Under him, the administrative apparatus of the fuel and energy complex has been further improved," Alexey Belogoryev drew attention.

"It should be added that against the backdrop of economic stagnation, the fuel and energy complex looked very attractive to investors. The fuel and energy complex plays a huge role in our economy, but it receives little attention in public space, apart from the oil price issue. Therefore, neither society, nor the parliament showed any dissatisfaction with Novak," he said.

"As a result, we can confidently say that Alexander Novak will continue to serve as Minister of Energy for a long time - unless, of course, he goes for promotion," Alexei Belogoryev concluded.