Ammon News - Russia has announced that its extractable gas reserves are sufficient for more than 100 years, based on current production levels.

According to TASS News Agency, Alexander Kozlov, Russian Minister of Natural Resources, stated that the country holds approximately one-fifth of the world's natural gas reserves, amounting to 63.5 trillion cubic metres.

Russia currently has 4,052 licences for geological surveys, exploration, and hydrocarbon extraction, distributed among 747 investors in the natural resources sector.

Regarding oil reserves, Kozlov noted that Russia ranks fifth globally, with reserves estimated at 31.4 billion tonnes, which he said would last for approximately 64.5 years at current production rates.