Investment in Energy Innovation Essential Say Panel of Leading International Scientists and Political Leaders

 Investment in Energy Innovation Essential Say Panel of Leading International
                       Scientists and Political Leaders

  PR Newswire

  MOSCOW, October 30, 2012

MOSCOW, October 30, 2012 /PRNewswire/ --

Speaking at the Global Energy Prize Summit in Moscow eminent international
scientists and senior figures from the Russian government underlined the need
for investment in research and innovation in the energy sector. Contributors
to the summit, including the President of the Russian Federation Vladimir
Putin, stressed the need for an efficient use of energy resources.

The summit was part of the celebrations for the 10 ^th anniversary of the
Global Energy Prize, the most prestigious annual award for outstanding
scientific research and technological development. This year's summit focused
upon how breakthrough technologies can solve the challenges facing humanity in
the 21 ^st century. Speakers at the event included laureates of the Global
Energy Prize, representatives of the Board of Gazprom, the China State Grid
Corporation, the government of Latvia and the International Gas Union.

In a message to summit participants President Putin said "Today energy
resources and their efficiency have become the key factor in the steady
development of national economies, determining the quality of people's lives.
That is why the efforts of energy scientists, their fundamental work and
practical discoveries are in great demand. After all, their work will give us
new and promising oil and gas fields, the technology for deep processing raw
materials, the most modern approaches to energy efficiency and alternative
energy sources."

In its latest World Energy Outlook, the International Energy Agency argued
that a focus on efficiency could have major benefits for the Russian
Federation and the world's energy balance. It suggested that if Russia
improved its energy efficiency to levels of comparable OECD countries it could
reduce its primary energy use by almost one-third, saving as much gas as its
total gas exports in 2010 or the equivalent of the total energy consumption of
the United Kingdom. According to its state program on "Energy Saving and
Energy Efficiency Improvement until 2020", Russia's is seeking to achieve a
40% reduction in energy intensity by 2020 and 56% by 2030. In addition, it is
striving to achieve 53% efficiency in gas-fired power generation by 2030.

Deputy Russian Energy Minister Anatoly Yanovsky noted that the Russian
Federation now provided around 20% of global production of natural gas and
that exports were expected to significantly increase with growing demand from
Asia. To meet growing international demand and to increase efficiency within
Russia he underlined that significant investment was needed in the country.
"Annual investments in the fuel and energy sector in Russia accounted for 4%
of pre-crisis GDP. In recent years they have increased and are close to 5%.
For the next decade we need investments of around 1 trillion US dollars" the
deputy minister said.

Speaking at the summit, Global Energy Prize laureate and co-author of Russia's
energy strategy to 2020 Alexey Kontorovich called for continued investment in
energy research as a route for the social and economic improvement of Russia.
"For a breakthrough development of Russian society requires serious public
investment in basic research projects that will not provide a short term

ThorsteinnIngiSigfusson, President of Icelandic New Energy, expert on
geothermal energy said: "The world is on the threshold of the third industrial
revolution. The first was when they began to use steam and coal in England.
Second - when the course went nuclear and oil. Third - be smart, intelligent
revolution, based on the Internet, smart solutions and green technologies."

"Never before have we had such strong, compelling political momentum to act
and the support of so many international stakeholders to take energy issues
forward in a positive, concrete and constructive way", stressed Mr. Kandeh K.
Yumkella, Director-General of UNIDO, in an official statement on the occasion
of the 10 ^th Anniversary of the Global Energy Prize.

About the Global Energy Prize

The Global Energy Prize is an independent international award for outstanding
research and scientific and technical development in the field of energy,
which promote efficient use of energy resources and environmental safety in
the world in the interests of all mankind.

The award was established in 2002. The annual prize fund is 33 million rubles.
Traditionally, the award is given to the President of Russia in St. Petersburg
at the St. Petersburg International Economic Forum. Other world leaders who
have supported the prize include former US President George W. Bush, former
British Prime Ministers Tony Blair and Gordon Brown, former French President
Jacques Chirac and Canadian Prime Minister, Steven Harper. Since 2003, the
award was 27 eminent scientists from France, Germany, Iceland, Canada, Russia,
USA, France, Ukraine and Japan.

Contact: For further details about the Global Energy Prize please contact Ewa
Abramiuk on or +32-495-80-88-88
Press spacebar to pause and continue. Press esc to stop.