Igor Sechin, Executive Secretary of the Commission under the President of the Russian Federation for Strategic Development of the Fuel and Energy Sector and Environmental Security, noted the key role of metals, especially copper and rare earth elements, in building a modern type of energy system.

"Metals are also critical for the development of a new type of energy system. Demand for them in power generation, electric transport, and power grids will more than double by 2050, with consumption growth potentially reaching nearly 200 million tons. But at that the resources are limited," Sechin said, speaking at the Energy Panel during the XXIX St. Petersburg International Economic Forum. 

At the same time, according to Igor Sechin, the key metal for the "new" economy is copper, the consumption of which in power grids could grow by 65% by 2040 and exceed seven million tons, which is equal to a quarter of all consumption of this metal at the moment. "It is forecasted that the next 20 years will require copper production comparable to the total produced over the past 10 000 years," added the Secretary of the Fuel and Energy Complex Commission. According to expert estimates, the deficit of this metal by 2050 could reach about 40%.

Igor Sechin also noted that access to metals is critically important for the defense industry as well, especially regarding rare earth elements. As an example, he cited the F-35 fighter jet, which contains over 400 kg of such elements, as well as the Virginia-class nuclear submarine, which requires more than 4 tons.

As an additional constraint, Sechin noted access to water. In the US, a 100-megawatt data center requires about 2 million liters of water per day. "This is equal to the consumption of 6,500 households. By 2030 water consumption by data centers could nearly double," Igor Sechin concluded.

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Rosneft Oil Company
June 6, 2026