Gennady Schmal: Russian exports will depend on oil and gas for a long time

Russia is obliged to actively promote its interests in the international energy market, because it cannot afford to lose its positions, the president of the Union of Oil and Gas Producers of Russia, Gennady Schmal, said at the official press conference, the correspondent of Vestnik Kavkaza reports.

"We cannot lose the gas market, in particular a European one: OPEC countries, which would be happy to take our place, are near. In this regard, we must continue serious dialogue with Europe. Let me remind you that before our gas companies conducted negotiations on the key issues every year. We need to return our old economic relations," he stressed.

Gennady Schmal pointed out that we should not say that Russia is trying to stay on the "oil and gas needle". "There is no needle. We must actively engage in the promotion of our interests, because our foreign economic activity will depend on the oil and gas for many years. One of the tasks is to reduce production costs. In particular, the current tax system interferes the development of the fuel and energy complex, because now oil companies cannot form the prospect for even next few years," he said.

Among the challenges for the near future, Gennady Schmal named developing of the gas cooperation with Turkey. "This is an interesting area, which is able to change the situation with energy sources. If Turkey is able to solve the issue of our gas supplies to Europe, then there will be a need to build an entire pipeline network in the southern direction," he said.

It is also important that the bilateral cooperation between Russia and the actual and potential partners in the oil and gas market today is not constrained by any external factors. "If before the price of oil and gas was influenced by OPEC, then now it is not the point. I believe that by the end of the year the oil will rise to $60 a barrel, and then it will return to $80 a barrel. I think it will happen in three years," Gennady Schmal expects.