ring the first half of 2012.key bilateral forum for discussing economic and financial issues is the Strategic Working Group, made up of representatives from government and industry. This working group, which last met in Moscow in November 2012, concentrates on specific cooperation projects in key areas of the two economies, such as aerospace, information and communications technology, financial services, construction, transport and infrastructure, car manufacturing, housing construction and health. The working group also addresses energy issues such as oil/gas, electricity, coal, renewable energy sources and energy efficiency.is one of the world s largest energy producers and possesses more than 6 % of global oil reserves, roughly 25% of global gas reserves and more than 19% of global coal reserves. According to BP figures, Russia is responsible for 19.6% of the world s gas production and 12.4% of the world s oil production . The EU is by far the most significant market for Russian energy exports. As Russia s largest EU trading partner, Germany is also the largest market for Russian energy exports. With a nearly one-third share of industrial production, energy is the largest sector of the Russian economy. It generates about a quarter of GDP and half the country s export volume. Through duties, taxes and tariffs it contributes a large share of federal revenues.companies are heavily involved in the energy sector in Russia. The Baltic Sea pipeline (Nord Stream) is a joint project being undertaken by Russian, Germany and other European businesses. The pipeline, which began operations in November 2011, has enabled a new supply route for transporting natural gas from Russian to Germany. It plays an important role in diversifying oil supply routes to Europe. There are plans to connect other countries to this pipeline as well.energy policy envisages considerable improvements in energy efficiency. There are several reasons for this. The Russian economy is very energy-intensive, with the industrial sector consuming comparatively high amounts of energy in proportion to what it produces. It is true that Russia, with emissions still far below 1990 levels, is still fulfilling its obligations under the Kyoto Protocol, which it ratified in 2004. Economic growth, however, could bring it up to the limits defined in the Protocol. Another good reason for Russia to enhance its energy efficiency is that using up less energy itself would leave it with new potential for export.means that German companies, renowned as world leaders in energy-saving technology, find themselves in demand in Russia. The Russian-German Energy Agency RuDEA, headquartered in Moscow, was launched in 2009 as part of the bilateral modernization partnership. RuDEA has the twofold aim of increasing energy efficiency in build...
