Russia's oil reserves will last for at least 30 years, and gas reserves for 50 years, Russian Deputy Prime Minister Alexander Novak said on Monday, APA reports citing TASS.
"Russia has huge oil and gas reserves. Under the current conditions and production levels, Russia’s oil reserves reach about 30 years, gas reserves - about 50 years," he said.
According to Novak, despite the energy transition process, Russia is confident in the possibility of selling its oil and gas reserves. "We believe that in the coming years these resources will be in demand in the energy markets," he stressed.