LONDON - Two of the world's largest oil producers plan to defy the International Energy Agency's recommendations and continue to invest in oil and gas, rejecting calls to drastically reduce fossil fuels despite bad weather.
Policymakers are under tremendous pressure to deliver on the promises made as part of the Paris Agreement, a memorandum of understanding widely known as the key to avoiding the devastating effects of climate change.
About 200 countries, including Russia and Saudi Arabia, which ratified the Paris climate agreement in 2015, agreed to pursue efforts to reduce planetary temperatures to 1.5 degrees Celsius above pre-industrial levels. The agreement requires the emission of greenhouse gases by 2050.
Surprisingly, the IEA - the world's leading energy consultant - issued its strongest warning on global fuel consumption last month, saying the exploitation and development of new oil and gas facilities must stop this year if the world wants to reach zero-zero. mid-century.
Speaking at the St. Petersburg International Economic Forum on Thursday, Russian Deputy Prime Minister Alexander Novak said the IEA had clearly come to terms with its "use of variable statistics" on how to achieve zero by 2050 emissions.
The IEA was not immediately available for comment. Indeed, the international watchdog says that stopping the occurrence of petrol, gas and coal is crucial to achieving the internationally agreed goal of zero-zero emissions.
“In my opinion this is the easiest way. It's also true, ”said Novak.
"There is no doubt that we need to move green energy and move towards a green agenda as needed by the community, but we need to be clear about what this can be done for, who will pay for it, what technology and opportunities we have,
His comments come shortly after Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman discussed an IEA report at an online news conference earlier this week.
"It's a sequel to the movie 'La La Land'. Why should I take it seriously? Abdulaziz said, according to Reuters.
His response to the report came shortly after OPEC and non-OPEC partners - the energy consortium known as OPEC + - agreed to a slight reduction in production in the coming months amid rising oil prices.
Saudi Arabia “produces oil and gas at low cost and produces renewable energy. I urge the world to accept this as the truth: that we will be the winners in all these endeavors, ”he added.
Novak said Abdulaziz reaffirmed Riyadh's commitment to investing in the SPIEF panel earlier that day.
Novak said it was Moscow's intention to do the same.
“I can assure you that the Russian Federation, its plans, its strategy [to continue] to grow oil and gas and coal. But we are also investing in renewable energy and, in hydrogen, in electric vehicles and in power stations, so we see the next decade as a mix of renewable fuel and petrol, ”said Novak.
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