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Photo Gallery: SPIEF-2019. Challenges and Opportunities for Business in Russian–European Relations Today – and in the Future
On June 6, in the framework of St. Petersburg International Economic Forum, a session was held, titled "Challenges and Opportunities for Business in Russian–European Relations Today – and in the Future".

Business continues to function and achieve results despite the complicated political relations between Russia and the European Union. Economic cooperation between Russia and Europe has great potential given the geographic, historic, and cultural prerequisites. Rapid technological developments, the opening up of new markets, and business opportunities provide additional stimulus. European manufacturers maintain faith in the Russian market; they are expanding their investments in Russia, and searching for new collaborative solutions in partnership with Russian enterprises. Meanwhile Russian companies are actively strengthening their export capabilities. How can European and Russian companies best overcome the obstacles they face? What strategies have proven to be the most effective and how do companies view their future prospects? What practical areas of cooperation between Russia and the EU can compensate for the crises in relations between two partners united by a common continent, historic and cultural proximity, and tried-and-tested economic ties? Could cooperation in education and science, research and innovation, and new technologies act as a driver for positive change?
Photo Gallery: SPIEF-2019. Global energy sector: challenges and opportunities
On June 6, in the framework of St. Petersburg International Economic Forum, a session was held, titled "Global energy sector: challenges and opportunities". Global energy markets are constantly transforming and the structure of energy demand is changing as well. According to experts, a slowdown in current and projected rates of global economic growth, increased energy efficiency and phasing petroleum products out of other types of energy resources may lead to a peak in oil consumption in the next 15–20 years. In addition, the role of natural gas as the cleanest fossil fuel and renewable energy sources will continue to grow in the future. All of this is already exacerbating competition on the markets and forcing industry players to enhance the appeal of their oil production projects by drumming up capital inflows and the development of new technologies as well as diversify their project portfolio. What should Russia’s strategy be on oil and gas markets in this regard? Where is the sweet spot between the option of maximizing investment in oil production and striving to increase the market share and the option of continuing intense cooperation with oil producing countries to limit production? Should we expect another long period of low oil price given the lack of cooperation using the model of the OPEC+ deal, on the one hand, and the increased investment in oil production in anticipation of the ‘peak oil’, on the other hand? What are the ambitions of gas market players? What opportunities do global energy markets offer for cooperation and joint promotion in the international arena?