FSUOGM: Sechin rails against energy transition

Renewable energy sources cannot provide energy security, Rosneft CEO Igor Sechin said in a speech at the St Petersburg International Economic Forum (SPIEF) on June 8 urging policy makers to revise energy transition strategies.

The company boss said there was insufficient planning behind energy transition strategies in terms of infrastructure development, financing and the provision of raw materials. He also cast doubt on the link between anthropogenic emissions and climate change.

Renewables such as solar and wind do not produce energy efficiently enough and they are too intermittent, Sechin said. While the most promising type of clean fuel is hydrogen, the energy required to produce it using electrolysis is greater than the amount of energy that is gained from its combustion. He added that there is not yet a commercially feasible technology for producing hydrogen or a market for the fuel.

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