Sechin spoke about China's growing potential as an energy exporter

In the foreseeable future, China will transform from an importer into a major exporter of energy, while achieving full energy dependence. This was stated by Rosneft Chief Executive Officer Igor Sechin in his report at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

He noted that China is demonstrating a unique example of a competent approach to the development of the energy system — the country currently accounts for a third of global investments in the energy sector.

"In my assessment, China, which has already ensured its energy security, is confidently moving towards full energy independence, forming a stable energy balance based on its own resources. There is no doubt, taking into account the perseverance and professionalism of our Chinese friends, that they will achieve the desired result in the foreseeable future, which will transform China from an importer of energy resources into a major exporter of energy," said the head of Rosneft.

According to Igor Sechin, in recent years, China has been the place where the largest volume of new renewable energy capacities has been introduced and more than 70% of the world's equipment production capacity for the "green" economy is located.

At the same time, China has never abandoned fossil fuels. "Today, the share of coal in China's electricity production is almost 60%. Just last year, China issued permits for the construction of about 100 gigawatts of new coal generation, the highest value in the last ten years, which should strengthen the role of coal in the energy system," said the head of Rosneft.