By Vestnik Kavkaza
Brent oil prices decreased to almost $100 for the first time since summer 2013. According to Prime-TASS, during the day prices for standard oil grades haven’t changed. Participants of the market ignored significant reduction of commercial reserves of the USA last week. The head of the State Duma for Energy, Ivan Grachev, told Vestnik Kavkaza about trends in the energy market.
- At the moment oil prices are experiencing negative tendencies. They began to drop. What is the reason for this?
- I think the fluctuations are timely. I am absolutely sure that before the next crisis oil and gas prices will grow on average. Environmental revolutions didn’t prevent the growth of consumption. It is impossible to achieve progress and increase living standards under decreasing energy consumption. It is a fantasy. This is impossible. So I believe we shouldn’t worry about it. At least before the next crisis. At the same time, it is necessary to analyze when the next global crisis happens and manage to do everything that is necessary before the crisis.
- Can the Iraqi events influence the sphere?
- I think there is opposite dependence. One can judge the risks there, looking at oil prices. When I was told that there is absolute chaos in Iraq, I looked at oil futures and saw that there is absolute chaos in Iraq.
- Do you think relations with the South Caucasus countries can be promising in the sphere?
- In fact it is a difficult question. I believe if the CIS countries were able to cooperate with each other in a better way in the sphere of energy resources export, then oil and gas prices’ fluctuations would be smaller. The world markets and the world players use disputes between us and problems between us. I think the warmer our relations are, the better the situation with oil prices will be.
- What can you say about the project of SOCAR and Rosneft?
- Rosneft pays serious attention to projects in the Caspian and the Black Seas. They want to deal with them seriously, but I don’t know the details. As far as I know, they wanted to bore intelligence platforms.
- Will the flow through Novorossiysk be increased?
- Of course. If we speak about serious intelligence, boring on the Caspian shelf and on the Black Sea shelf, Rosneft will increase supply through the lines.
