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In His Own Words

Energy

Excerpted from a February 2007 interview with Kommersant newspaper

There are a few global economic problems, and one of these is what we call "energy security".The number of people in the world as a whole is increasing by 1 percent each year, practically 30 million people, and they require energy. This is going to determine the development of the global economy for at least the next 20-25 years, and the global economy is not ready for it.

In my view, this is precisely where there will be a breakthrough. The energy of the future will combine traditional forms of energy and the so-called "new" sources of energy - wind, solar and hydrogen power. Traditional types of energy have two fundamental problems – the regulation of peak demand for energy, and its efficient storage. I believe that these problems will be solved by hydrogen energy, a field where great strides have already been made.

An innovative economy cannot be built on sand, it needs to be based on a solid foundation. Russia is a major power in the field of energy, and it is logical to develop innovation in precisely this sphere of operations. We want to create a company which will combine traditional energy with innovative energy.

News & Updates

Russian billionaire Prokhorov to roll out hybrid car models in December
31 August 2010

NBA's New Jersey Nets File Paperwork to Change Team's Name in 2012
13 August 2010

More Resources

Commentary and opinions: a selection of excerpts from speeches and presentations by Mikhail Prokhorov