Home Insights & Advice Yuri Shafranik’s view of the global energy future – clean, fossil or hybrid?

Yuri Shafranik’s view of the global energy future – clean, fossil or hybrid?

by John Saunders
30th Apr 21 1:00 pm

US President Joe Biden has celebrated his positive 100-day approval rating by championing his clean energy plans on a global platform. The Democrats Party leader’s $2 trillion infrastructure plan includes billions of dollars in investment and job creation in the clean, green energy industry. However, although Biden’s pledge to aggressively reduce his country’s carbon footprint has been welcomed, some of that praise has included signs of scepticism that while aiming high is admirable, achieving those targets is a difficult challenge.

Indeed, even as oil companies such as BP work hard to improve their image and plan for a future of green energy, experts forecast demand for oil to rise over the immediate-to-medium term, and Mexico is switching government investment from renewable energy to coal. Against this backdrop, it can be difficult for some to come up with a realistic, balanced outlook for global energy. From experienced businessman and energy specialist Yuri Shafranik’s perspective, a hybrid energy future is the most likely long-term scenario.

A life dominated by energy developments

Still active in the world of energy and business, Yuri Shafranik began his career by studying electrical and mining engineering at Tyumen University, earning a degree that included an academic paper on the development of hydrocarbons. As a professional, Russian-born Yuri Shafranik started his first job with one of the country’s largest oil producers and eventually became CEO of that same business – Lagnepasneftgaz.

This solid footing in the energy industry, supported by his interest in and in-depth knowledge of hydrocarbons among other energy sources, ensures Yuri Shafranik remains a sought-after expert, with views that are borne of many years’ experience. Those years also include founding the Central Fuel Company in 1997, which, after becoming the leading regional petroleum products wholesaler was among the Inam project participants. He then founded SoyuzNefteGaz in 2000 with operations in Russia and overseas and returning $1.5 billion investor capital, and five years as a director at First Calgary Petroleums before it was sold to Eni SpA.

Today, Shafranik’s specialist views on energy and business are actively sought through his various roles; chairman of the Supreme Mining Council, the Union of Oil and Gas Producers of Russia and the Institute of Energy Strategy. This wealth of knowledge and experience ensure that when Shafranik shares his outlook, people listen.

A balance between financial and environmental needs

The topic of renewable and clean energy has been much discussed on a global scale in recent years. This means it’s no surprise that the US President has taken the opportunity to further distance himself from his predecessor Donald Trump and embrace the growing industry. Of course, Biden isn’t alone in his ambitions for a nationally lower carbon footprint and reduction of reliance on fossil fuels. But, is a world with no fossil fuels by 2050 really possible?

The answer is oft-debated, with supporters of green energy confident it could be, while other oil and gas experts remain far from convinced. For Yuri Shafranik, a lifetime of working in the energy industry, the likelihood of 100% clean and renewable energy is unlikely, despite the growth of ambitions to make it so.

“I’m confident that the future belongs to hybrid power systems,” Yuri Shafranik said in one of his interviews. “It’s the energy of the future, but humanity must address wider environmental issues. We cannot oppose one type of energy to another. We have to bring all resources together.”

While there is certainty that greener energy options will increase, for them to do so meaningfully requires the backing of big businesses and their investors.

Recent comments from BP’s CEO, Bernard Looney, suggest some of those dominant energy companies are on the road to adapting from fossil fuels to clean energy. However, many investors require more assurance that the returns from this new energy future will be as strong as they have been from oil and gas.

But, with a growing global consciousness focusing on the development of more greener energy sources, alongside investor demands for healthy returns, Shafranik’s outlook for the future of energy looks a likely outcome.

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