Russia has enough gas reserves for more than 100 years

Russian Natural Resources Minister Alexander Cozlov confirmed that Russia has a gas extracted reserves sufficient for more than 100 years based on the current production level. He also indicated that Russia’s oil reserves are sufficient for 64.5 years.

According to the minister’s statements, Russia has about five global natural gas reserves, as its reserves are estimated at about 63.5 trillion cubic meters. Russia is also ranked fifth in the world in oil reserves, which amounts to 31.4 billion tons.

Kozlov added that Russia currently has 4052 licenses for geological studies and the extraction of hydrocarbon materials, distributed among 747 investors in the sector.