RUSSIA NEEDS $2.7 TRILLION
Russia will need $2.7 trillion investment in the energy sector in 2014-2035, the International Energy Agency has said in its World Energy Investment Outlook-2014 newsletter.
The gas industry will grow faster than the rest of the sector so investment in this industry is likely to amount to $1.016 trillion, according to the report as cited by RBK. Of this, $715bn will be spent on exploration and production and $301bn on transportation. The oil industry will need $849bn. Of this, $750bn is to be spent on development, $70bn on processing and $28bn on transportation, said the IEA. The power sector will need $614bn, including $49bn for the coal sector.
Over the next 20 years, investment in the Russian oil and gas industries alone is to amount to $2.086tn, according to the forecast. This translates into $104bn per annum.
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