Sechin spoke about the factors of China's transformation into a global energy power

The balanced development of the economy, energy, science and technology has allowed China to take the place of a global energy power. This was stated by Igor Sechin, Executive Secretary of the Commission under the President of the Russian Federation for the development Strategy of the fuel and energy complex and environmental Safety, head of Rosneft, at the Energy Panel of the St. Petersburg International Economic Forum.

"After the collapse of the Soviet Union, the West believed that there would never be another real rival. Over the past decades, China has demonstrated not only economic success, but also the highest achievements in science and technology, which have allowed it to become a global energy power," he said.

Sechin noted that China was most prepared for the consequences of the crisis over the Strait of Hormuz due to its energy security policy and the development of alternative modes of transport. According to him, the country has created an affordable transport infrastructure, including electric cars, electric buses, metro and electric trains.

He also drew attention to the cost of electricity in China. According to the data provided by Sechin, for industry it is about 9 cents per kilowatt hour (72% lower than in Germany and 59% lower than in France), and for the population it is about 7 cents per kilowatt hour (58% lower than in the United States). "Only Russia is at a similar level," Sechin stressed.

The head of Rosneft said that China operates the world's largest energy system with an installed generation capacity of about 4,000 GW. In 2025 alone, the country commissioned more than 540 GW of new generating capacity, equivalent to half of the installed capacity of the entire European Union.

He noted that China is simultaneously developing renewable, coal-fired and nuclear generation, and remains the world leader in the introduction of battery energy storage systems and investments in the electric grid infrastructure.

"Strengthening energy security is part of a comprehensive program to mobilize domestic reserves implemented by China. Its goal is to prepare for the most negative scenario of confrontation with the collective West, which may be accompanied by a large—scale disruption of supplies of all types of goods and services, including a trade blockade," Sechin concluded.