Proponents of the “net zero” concept are leading humanity to energy regression, said Igor Sechin, Chief Executive Officer of Rosneft, in his report “Odyssey of The Global Economy in Search of The Golden Fleece. The New Landscape of Global Energy”.

During his speech at the Energy Panel of the XXVIII St. Petersburg International Economic Forum, the CEO of the Company noted that every time mankind switched to a new type of fuel, the efficiency of the energy system increased and its capabilities expanded. “This was due to the fact that the new energy source usually had a higher energy flux density,” Sechin added.

He recalled that the outstanding scientist Pyotr Kapitsa proved that energy flux density is a key characteristic of any energy source. “By this indicator, such types of fossil fuels as coal (135.1 W/m2), oil (195 W/m2) and gas (482 W/m2), well as nuclear energy (241 W/m2) are far ahead of both solar (6.6 W/m2) and wind energy (1.8 W/m2). Thus, the concept of 'net zero' actually crosses out centuries of progressive development of society, offering mankind an energy regression”, - said the CEO of Rosneft.

He stressed that European politicians lack the courage to publicly recognize this fact. “Their blind faith in the 'green' transition already resembles an addiction. As one of the classics of French literature aptly put: 'A red nose is a sign of constancy of character',” Igor Sechin emphasized.

“Clearly, the integration of renewables requires a profound transformation of infrastructure, the scale of which is underestimated. The IEA estimates that global investment in grid development is two and a half times behind investment in generation,” he concluded.

Department of Information and Advertising
Rosneft Oil Company
June 21, 2025