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Russia expects US$3.9bn in investments to modernise energy infrastructure

According to the Ministry of Energy of Russia, modernising the country's energy infrastructure should cost at least RUB250bn (US$3.9bn) through 2024, including the development of its power transmission grid with the addition of 6,000 km of new power lines and more than 3,500 MVA of transformer capacity. In the power generation sector, Russia plans to upgrade 41 GW of thermal power plants to cut the cost of power generation and to commission 4 GW of new power generation capacity. Overall nearly RUB 157bn (US$2.5bn) will be invested in the construction or modernisation of thermal power plants in the country. These investments are expected to support the growth of electricity consumption in Russia (estimated at 6% between late 2018 and late 2024). Russia also expects the renewable power capacity to increase by 890 MW in 2019 and by more than 900 MW in 2020.

Where fossil fuels are concerned, Russia expects coal and lignite mining to raise from 412 Mt in 2018 to 445 Mt by the end of 2019 and to 453 Mt in 2020. The country will continue with the development of new coal mining centers such as the Elga deposit in the Republic of Sakha (Yakutia), the Ulug-Khem coal basin in the Republic of Tyva, the East Bei coal deposit in the Republic of Khakassia, the Amaam deposit in the Chukotka Autonomous District, and the deposits of the Taimyr coal basin. Russia expects to raise oil exports by 20-25 Mt within 5 years, from nearly 260 Mt in 2018 to around 280 Mt, and gas exports by 40-45 bcm, from around 250 bcm in 2018 to 300 bcm by 2022. The country will continue to develop its gas resources and gas export infrastructures.