Russian billionaire considered a dangerous step too quick refusal of gas

Alfa Group co-owner Fridman: switching from gas too quickly can be a dangerous step

Alfa Group co-owner Mikhail Fridman considered it dangerous and irresponsible to move too quickly from gas to renewable energy sources. He stated this in an interview with the Financial Times (FT).

The businessman noted that the recent energy crisis is partly due to the underestimation of the oil and gas industry, and the sharp jump in fuel prices in Europe indicates a lack of investment, especially in light of public pressure for the purpose of decarbonization.

“The transition is a very complex and very difficult process. At the moment we have no real alternative to life without gas, “Friedman said, adding that gas will be relevant in the structure of energy consumption for decades to come.

The billionaire promised to invest more in alternative energy to reduce the carbon footprint on climate on the part of “its oil and gas empire.” This happened, among other things, due to the seizures of Gazprom. The filling of the storage facilities decreased to 76.43 percent and as of November 4 amounted to about 81.75 billion cubic meters of gas.

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