Russia has some of the largest energy-saving potential in the
world. Russian experts estimate that transition to new technologies
and implementation of energy-saving programs may conserve about
40% (or no less than $30-40 billion) of presently available energy
resources.
Until now, the energy component in production has declined only
through increasing the scale of production. Despite negative trends,
Russia today seems on the right track to achieving energy-saving
targets. Privatization in the Russian economy is promoting the
development of resource-saving strategies since energy prices
have rapidly increased, even approaching world prices in recent
years.
The federal budget covers more than a quarter of total costs for
carrying out energy-saving projects and measures. International
financial organizations and institutions are showing a great interest
in these projects: The World Bank has already given a $106 million
credit for reconstructing gas-distribution nets. However, the
attraction of private investments (including foreign) can become
the crucial factor in financing Russia's energy-saving sector.
The interest for the investor is clear: investment in fuel and
energy-saving projects now pays off in six months to a year and
a half.