Sechin assessed China's role in shaping the global energy industry

The new face of global energy, which China is currently shaping, is a synthesis of traditional and alternative energy sources. Igor Sechin, Executive Secretary of the Presidential Commission for the Development Strategy of the Fuel and Energy Complex, Chief Executive Officer of Rosneft, said this at the opening of the VII Russian-Chinese Energy Business Forum (RCEBF) in Beijing.

"Today, China is a great energy power that is shaping the new face of the entire global energy sector. The country is moving by leaps and bounds towards building a new type of energy system, which is a synthesis of traditional and alternative sources," Sechin said.

According to Sechin, Western countries followed the path of the German idealist philosopher Jacob Boehme, who preached a magical way to achieve results. "As our people say, 'by the pike's command, by my will' or 'with God's help,'" the head of Rosneft ironically remarked.

Sechin drew attention to the fact that today China generates more than twice as much electricity as the United States, whereas just 20 years ago the situation was the opposite. China accounts for a third of global investments in the energy sector, Sechin stressed. This year, about $900 billion is expected, which is 30% higher than the investments of all of North America and more than 1.5 times that of Europe.

As the Russian entrepreneur emphasized, the rapid development of technology and the unprecedented pace of electrification have brought China to the first place in the world in terms of energy consumption. "Such energy supply needs require a special approach to energy security," Sechin concluded.

All important news is on the Izvestia channel in the MAX messenger.