Fuel and its Accent
Belarus has explored new oil and oil gas deposits in the southeast of the country, estimated to be enough to cut this country’s oil and natural gas dependence at least by a quarter in the long run
Natural gas accounts for over a half of the energy that Belarus consumes, and about 85% of this gas comes from Russia. Belarus’ oil refining capacities meet about 60% of the country’s oil product requirement. As is known, Belarus receives energy carriers from Russia at reduced prices, but recent statements of Russian and Belarusian officials make it clear that Russian natural gas may get at least 50% more expensive in years to come.
Belarus is developing wind, solar, peat and biological power engineering, but the use of these sources will become relevant only if crude and gas get too expensive. Belarus’ future in the energy sector is traditionally compared with the “Scandinavian model”, which is based on equal shares of imported, fossil and renewable fuels. The priorities for the near future are oil and gas deposits, crude refining facilities and sporadic use of renewable sources of energy.