Putin Highlights Shifts in Global Energy and Russia’s Role at Russian Energy Week
11:31 GMT 16.10.2025 (Updated: 13:40 GMT 16.10.2025)
© Sputnik / Grigory Sysoev
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MOSCOW (Sputnik) - The reconfiguration of global energy relations in the world is objective in nature, consumption is growing, Russian President Vladimir Putin said on Thursday.
"During my address, I will touch on some of the key trends in modern energy and, of course, present our perspective on the challenges facing the global and Russian fuel and energy sectors. The first such challenge is the reconfiguration of global energy relations. This is largely objective and natural. New centers of economic development are simply emerging, and consumption there is growing," Putin said at the plenary session of the Russian Energy Week forum.
The global energy market is undergoing restructuring of supplies and routes, the president added.
Russia Plans to Produce 510Mln Tonnes of Oil by Year-End
Russia plans to produce 510 million tons of oil by the end of this year, which is 1% lower than a year earlier, Russian President Vladimir Putin said on Thursday.
"We expect that 510 million tonnes of oil will be produced in our country by the end of the year. This is about 1% lower than last year. But I would like to draw your attention to the fact that this is happening in accordance with the agreements reached under the OPEC+ agreement. In other words, this is a voluntary reduction," Putin said at the plenary session of the Russian Energy Week forum.
Western Actions Caused Artificial Breakdown of Global Energy Architecture
Vladimir Putin said that Western countries are deliberately disrupting the global energy system, causing an artificial breakdown.
"But we are also facing, of course, an artificial breakdown of the energy architecture caused by the aggressive and very assertive actions of some Western elites," Putin said.
Putin promised to outline Russia’s perspective on the key challenges confronting both the global and domestic fuel and energy sectors during his speech.
Russia Continues Cooperation Within OPEC+
Russia continues to cooperate within the framework of OPEC+, Putin said.
"As I have already said, Russia continues to cooperate within OPEC+, and based on mutual interests, our partners and I are fulfilling our obligations to balance the global oil market. I would like to point out that this is done not only for producers, but also for consumers. The result of joint efforts exists," Putin said at the plenary session of the Russian Energy Week forum.
Predictability in the oil market is the most important thing for the global economy, Putin said, adding that the Russian oil sector is working steadily.
Russia's oil production cut in 2025 is linked to the OPEC+ agreements, Putin added.
Russia Working to Increase Export Potential of Its Gas Industry
Russia is taking steps to expand the export capacity of its gas industry, with a particular focus on liquefied natural gas (LNG), Putin said.
"Together with our partners, we are working to increase the export potential of the Russian gas industry – and this includes not only pipeline gas, but also LNG supplies," Putin said at the Russian Energy Week.
Russia Remains One of World's Leading Oil Producers
Russia retains its position as one of the leading oil producers, despite the use of unfair competition mechanisms against the country, Vladimir Putin said.
"Russia retains its position as one of the leading oil producers, despite the use of unfair competition mechanisms against us," Putin said at the plenary session of the Russian Energy Week forum.
Russia currently provides about 10% of global oil production, Putin added.
Russia Maintains High Gas Production
Russia keeps gas production at a high level, but it is necessary to increase production of hard-to-recover reserves, Vladimir Putin said.
"Russia has unique gas reserves. We keep its production at a high level. However, it is necessary to constantly work on the resource base, to replenish it, including through the development of hard-to-recover reserves," Putin said.
Refusal to Buy Russian Energy Resources Results in Higher Energy Prices
The refusal of certain countries to purchase Russian energy resources resulted in a drop in industrial turnover and rising prices in those countries, Putin said.
"Many European countries have refused to buy Russian energy resources under political pressure... We are seeing the consequences of these actions [refusal to purchase Russian energy resources] in the European Union, including a drop in industrial turnover and rising prices due to more overseas oil and gas, as well as a decline in competitiveness of European goods and the economy as a whole," Putin said on the sidelines of the Russian Energy Week.
Putin noted the decline in industrial production in Germany, which is considered the engine of the European economy. In July 2025, industrial production in Germany fell by 6.6% compared to the average level in 2021, the president said.
Russia's Gas Exports Not Yet Fully Recovered, But Continue to Grow
Russia's gas exports have not yet fully recovered, but continue to grow, Vladimir Putin said.
Gas consumption is growing steadily in the Asia-Pacific region, the Middle East, and Latin America, while in Europe, gas demand is still below 2019 levels, the president said.
"Gas exports did initially decline, but then began to grow again. They have not fully recovered yet, but the growth is absolutely clear," Putin said.
The European Union's demarche has only accelerated the shift in the vector of Russian supplies in favor of more promising, responsible buyers, countries that know their interests and act rationally, based precisely on these national interests, the leader said.
"Our gas companies provide these markets with reliable supplies, as we have always done in all directions before," Putin said, adding that the Russian energy system is one of the largest in the world.
World Will Use Cars With Internal Combustion Engines for Long Time to Come
The world will continue to use cars with internal combustion engines for a long time, Putin said.
"Previous plans to phase out internal combustion engines are realistically being shifted, so to speak, 'to the right.' Well, people are using gasoline-powered cars, and they will continue to do so. They will continue to do so for a long time," Putin said at the plenary session of the Russian Energy Week forum.
Russia's Rosatom Occupies About 90% of Global NPP Construction Market
The Russian state nuclear corporation Rosatom currently occupies about 90% of the global nuclear power plant construction market, Putin said.
"Our other high–tech leader, Rosatom, also has solid experience. It occupies about 90% of the global nuclear power plant construction market," Putin said at the plenary session of the Russian Energy Week forum.
The digital economy puts a demand on nuclear energy, Putin said.
"A total of 110 power units of Russian domestic design have been built all over the world," Putin said, adding that "in Russia, the commissioning of more than 29 gigawatts of nuclear power plants, including small nuclear power plants, is planned over the next decade and a half. And so far, no one is building small nuclear power plants except us. There are plans, but in reality, in practice, nothing happens in the world, only we do it."
Russia will deepen cooperation in the nuclear industry with countries of the Global South through BRICS, Putin added.
Gas Infrastructure Coverage in Russia at Almost 75%
Gas infrastructure coverage in Russia has reached almost 75%, Russian President Vladimir Putin said on Thursday.
"Gas infrastructure coverage in Russia is approaching 75% and will certainly continue to grow. To be more precise, it is sitting at 74.7%. The growth since 2019 has amounted to 6.1%," Putin said.
Global Economy, Energy Demand Rising as Supply Chains Transform
The global economy and its energy needs are growing amid an ongoing reformation of supply chains in the global energy market, Vladimir Putin said.
"Energy logistics are shifting toward the Global South, the dynamic countries of the Asia-Pacific region, Africa, and Latin America, with more reliable routes, new hubs, and ports that take into account the current and future needs of buyers. And these needs are undoubtedly growing. The global economy is rising year after year, despite all the challenges. The pace is changing, but it is still positive. And needs are growing," Putin said at the Russian Energy Week..
Global oil demand will reach 104.5 million barrels per day this year, thus rising by over 1 million barrels per day compared to last year, the president also said.
Putin Points to Need to Establish Energy Sovereignty
It is necessary to establish energy sovereignty in Russia, Putin said.
"We need to actively change the status of energy-producing countries from equipment buyers to technology leaders, and establish full energy sovereignty at the national level, from resource extraction and processing to transportation of finished products," Putin said at the plenary session of the Russian Energy Week forum.
The processes of achieving technological leadership have already been deployed in the Russian fuel and energy sector, the president said, adding that the Russian fuel and energy companies have moved quickly to replace Western equipment.
West commercial structures in the field of fuel and energy industry equipment have been forced to leave Russia under pressure from their political elites, Putin said.
"Our specialists are growing and growing, becoming technological leaders. Because, in fact, it allows us to manufacture products at a high, cost-effective level. And we are finding partners all over the world who are now purchasing this equipment from Russian companies. Yesterday, they were buying from Europe, and today, more and more, they're buying from us," Putin said.
Russia has always fulfilled external agreements in the fuel and energy sector, the president said, noting that the country did it, is doing it and will do it.
Coal Market Will Remain Significant for Decades to Come
The coal market will remain significant for decades to come, with consumption currently on the rise in Asian countries, Vladimir Putin said.
"But given the shift in global business activity in the Asia-Pacific region, we can expect that the coal market will remain significant and large for decades to come," Putin said.
Coal still occupies a "significant share" in the global energy mix, Putin added.
"While Western markets are reducing demand for coal, Asian countries are increasing their consumption," Putin said.
