"There is great potential for cooperation in energy projects, given the increasing energy demand in Southeast Asia," he told reporters after the opening of the "5 years of ASEAN-Russia Strategic Partnership" event.
Energy demand in the region will increase by 50 percent by 2050, so cooperation is crucial, Zagaynov said.
He informed that the cooperation could include several projects, such as oil and natural gas production, environmentally friendly coal technology, electric power, nuclear energy, and other alternative energy sources, which align with the global demand for sustainable energy solutions.
Russia has been an ASEAN dialogue partner since 1996. In November 2018, the two parties agreed to upgrade their relationship to a strategic partnership.
In July 2023, ASEAN and Russian foreign ministers adopted the "Joint Statement of ASEAN and Russian Foreign Ministers on the Occasion of the 5th Anniversary of ASEAN-Russia Strategic Partnership," which outlined priority areas of cooperation between the two sides in the coming years.
The priority areas include food security, disaster mitigation, environment, climate change and biodiversity, sustainable energy, and energy security.
Zagaynov said that Russia is ready to increase the supplies of oil and gas, including liquefied natural gas (LNG), to ASEAN, which is expected to contribute to the region's energy security.
The Russian Energy Agency is also actively engaging with the ASEAN Energy Center, and the two are working on several joint projects in the field of natural gas and energy statistics, he informed.
According to the International Energy Agency (IEA), Russia is the world's third-largest producer of oil after the United States and Saudi Arabia.
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Translator: Shofi A, Kenzu
Editor: Azis Kurmala
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