A dialogue was opened: the new energy order and Russia's role in it were discussed in Istanbul

The increase in the share of the Asia-Pacific region (APR) in Russia's energy exports to almost 50% is not just a change in statistics, but a reflection of the new configuration of the global energy sector: China, India and Turkey have become the largest buyers of Russian energy resources, the total volume of which in 2024 was estimated at €242 billion, according to Izvestia experts. According to them, by the end of this year, the indicator may grow by 5-8%, reaching €255-260. The energy agenda has become one of the key topics of the XVIII Verona Eurasian Economic Forum, which opened in Istanbul. The role of the Russian Federation in the global energy sector, according to the participants of the event, is not only not decreasing, but also strengthening — despite the sanctions pressure. How, under conditions of unprecedented restrictions, business and authorities from 30 countries sought common ground is described in the Izvestia article.

Energy projects

More than a thousand politicians, heads of leading companies, scientists and experts from 30 countries gathered under the still warm sun of Istanbul on the shores of the Bosphorus to discuss ways of economic cooperation between the states. It was this Turkish city that hosted the participants of the XVIII Verona Eurasian Economic Forum in 2025, organized by the Italian non-profit Association Let's Explore Eurasia with the support of the Roscongress Foundation. The Chiragan Palace became the venue of the event.

Previously, meetings were held in Verona, but in recent years the forum has been traveling more and more around the world — it was held in Baku (Azerbaijan), Samarkand (Uzbekistan) and Ras al Khaimah (UAE). His main theme in Istanbul was "New energy for new economic realities." The discussions of the two-day business program (October 30-31) are devoted to the search for innovative solutions in energy, industry, finance, transport, digital technologies, agriculture and the social sphere.

On the first day of the forum, energy became a key topic of discussion — it was this topic that brought together leading experts, company executives and representatives of government agencies.

Turkish Minister of Energy and Natural Resources Alparslan Bayraktar said that the global economy is facing new challenges, and the level of uncertainty is increasing dramatically.

"Turkey, for its part, is ready to establish links between continents, industries, traditional and new energy systems and continue to play a constructive role in the development of the global economy," he said.

According to Antonio Fallico, President of the Let's Explore Eurasia Association, the recent SCO summit in Tianjin and last year's BRICS summit in Kazan showed that the countries of the Global South, or, as it is sometimes called, the global majority, are gaining significant weight and making independent decisions. They are actively looking for new mechanisms for interaction and coordination of positions on key issues of our time, including the economy.

In recent years, Turkey has become one of the key centers of economic development not only in the region, but also around the world, said Kirill Komarov, First Deputy General Director, Director of the Development and International Business Unit at Rosatom State Corporation. Thanks to an active government policy, increased investments, and infrastructure development, the Turkish economy is showing steady growth.

— Special attention should be paid to the energy sector. Turkey is consistently implementing a strategy to become an energy hub connecting East and West, North and South," he said.

According to him, the demand for electricity is growing all over the world today. This is facilitated by population growth, industrial development, the introduction of artificial intelligence technologies, and the transition to electric mobility. Looking to the future, global electricity consumption could double to reach 50 trillion kWh by 2050. This means that one of the main tasks that the whole world is solving today is how to provide the inhabitants of our planet with stable, clean electricity. And the solution to this problem is impossible without nuclear energy.

— It is a great honor and responsibility for Rosatom to participate in the world's largest nuclear construction project, which is currently underway in the Turkish province of Mersin. Akkuyu NPP is the first nuclear power plant in Turkey, a mutually beneficial strategic project that contributes to strengthening the multifaceted partnership between our countries, energy security and sustainable economic development of the republic," he said.

Alparslan Bayraktar said that Akkuyu NPP is Turkey's largest energy project. He confirmed his intention to launch electricity production in 2026 at the first unit of the nuclear power plant, which is being built together with Russia.

However, according to him, cooperation between Ankara and Moscow in the nuclear energy sector is not limited only to this project.

"We have a strategic, multifaceted and long—term cooperation, which includes technological transformation, training of specialists and industrial development," he said.

Demand for Russian LNG

The forum also discussed the supply of Russian liquefied natural gas (LNG), which is going to be abandoned in Europe. According to Leonid Mikhelson, Chairman of the Board of Novatek, if Russia is excluded from global LNG production, fuel prices will soar, which will primarily affect the EU.

— The European Union has included in the 19th package of sanctions the abandonment of Russian LNG in 2027. Currently, Russia accounts for more than 10% of global LNG production. These volumes will simply go to other markets. It is simply impossible to exclude them from the global gas balance, there will be an unprecedented rise in prices, and the European consumer will pay the most in this case," he said.

According to him, the volume of LNG demand in the world will increase by 4% in 2025, which will be facilitated by a significant increase in demand in Europe.

— The average annual increase in the LNG market is about 2%. However, due to the significant increase in demand in Europe, consumption is projected to increase to 4% this year," he said.

The global market for liquefied natural gas will grow from 405 to 720 billion cubic meters by 2050, and only three countries — Russia, the United States and Qatar - can ensure such growth. According to him, global gas demand is expected to grow by 20% to at least 5 trillion cubic meters by 2050. m per year.

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Judging by the position expressed at the forum, domestic energy companies are positive, Alexander Frolov told Izvestia.

— Firstly, they believe that relations between Moscow and Ankara in the energy sector will only develop. Secondly, they believe that the growth of the global economy will lead to an increase in demand for energy resources, and therefore there will be plenty of opportunities for supplies from the Russian Federation. Thus, gas demand is expected to grow by 1 trillion cubic meters by 2050, and LNG supplies will add another 300 million tons by that time. Without Russian gas in these conditions, the crisis of 2021-2024 will repeat in the world," the expert said.

The importance of dialogue

According to Alexander Frolov, the Verona Forum is a unique platform for our time. The event takes place outside of Russia and at the same time brings together experts from both the Russian Federation and from all over Eurasia, including the EU countries. This is an unnecessary reminder that there is no "collective West" in reality, that not everyone in Europe wants to break off relations with Moscow and not everyone is hostile to our country. An Italian professor became a symbol of this, reading out the welcoming words of Russian President Vladimir Putin in good Russian at the beginning of the forum, the expert emphasized.

According to Igor Rastorguev, a leading analyst at AMarkets, Istanbul is a city that has historically served as a bridge between continents. The choice of the site is symbolic: when the western part of the continent persists in sanctions restrictions, the business world is looking for ways for dialogue wherever possible.

— The theme of the forum "New Energy for new economic realities" reflects what is happening before our eyes. Over the past three years, the Russian fuel and energy complex has completely completed the reorientation of supplies from the West to the East and South. By 2027, the share of the Asia-Pacific region in our energy exports will reach 69% compared to 49% in 2024. These are not just numbers, but a new map of global energy, where China, India and Turkey became the largest buyers of Russian energy resources worth €242 billion last year," he said.

According to him, the total revenue from energy exports to China, India and Turkey may grow by 5-8%, reaching €255-260 billion by 2025. The further expansion of pipeline gas supplies to China via the Power of Siberia, the growth of LNG exports and the continued high demand from India for Russian oil create a stable basis for such dynamics, despite a possible decrease in average hydrocarbon prices, he added.

Leonid Mikhelson presented figures at the forum, which, according to the expert, cast doubt on the realism of European plans to abandon Russian LNG.

— There is no guarantee that the United States will be able to cover this demand for LNG, even by increasing production. Today, the question is not "how to abandon gas," but "how to meet the growing demand," Igor Rastorguev said.

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According to the expert, there is a request for a pragmatic conversation about the energy future even among European politicians. Europe continues to purchase Russian LNG (we are the second supplier after the United States), while spending huge amounts of money on the transition to renewable energy.

— But BASF is closing production facilities in Germany and investing in China, where energy is 70% cheaper. Negative electricity prices due to overproduction of solar energy and emptying European factories are the very "new reality" that the forum participants are talking about, he said.

According to the expert, it is also important that President Vladimir Putin, in welcoming the participants, emphasized the role of the Russian initiative of the Greater Eurasian Partnership. The main centers of economic growth and key trade routes are concentrated in Eurasia. The SCO unites 65% of the continent's territory and 40% of the world's population.

— This is not a geopolitical game against someone, but a real economic necessity: when some try to politicize the energy sector, others build working relationships. With Europe's dependence on Russian gas reduced from 35% in 2021 to 8% in 2025, our country has found new markets and continues to be the largest gas exporter in the world," said Igor Rastorguev.

The relocation of the forum from Verona, Italy, first to Baku, then to the UAE and now to Istanbul reflects real changes in the global economy. The Forum follows the capital and energy flows, which are increasingly shifting to the East and South. The participation of more than 1,000 delegates from 30 countries shows that the business community operates beyond the sanctions lists. Energy is once again coming to the center of the global agenda after decades of the predominance of the service economy, a trend that will determine the coming years.