Energy Sector Drives Technological Revolution, but Demands Multiplied Energy Consumption

As the chief executive of Rosneft, Igor Sechin, noted at the XXVIII St. Petersburg International Economic Forum, the energy sector is a driving force behind the new technological revolution. This revolution will rely heavily on artificial intelligence and big data to increase labor productivity. According to Goldman Sachs, the large-scale introduction of high technologies will increase labor productivity by 1.5 percentage points for developed countries and by 1 percentage point for developing countries over a 10-year period. However, this development requires significant natural resources, large investments in infrastructure and human capital, and a substantial increase in energy consumption.

Key Takeaways:

• Igor Sechin, Rosneft CEO, emphasized the energy sector's central role in the new technological revolution, which will heavily rely on artificial intelligence and big data.
• The large-scale introduction of high technologies is expected to increase labor productivity by 1.5 percentage points for developed countries and 1 percentage point for developing countries over 10 years, according to Goldman Sachs.
• Development of high technologies requires significant natural resources and investments in infrastructure and human capital, resulting in increased energy consumption.
• Sechin noted that the use of artificial intelligence based on large data centers is energy-intensive, with the electricity needs of one 100-megawatt data center comparable to the consumption of 100,000 households.
• The International Energy Agency estimates that the electricity consumption of data centers will increase by tens of times in the future, with forecasts suggesting it will more than double to 1,000 terawatt-hours by 2030, comparable to Japan's current consumption.
• Sechin cited the development of the cryptocurrency market as an example of the impact of digitalization on the global energy system, noting that it has become an independent industry consuming resources on par with entire countries, with the energy consumption of the Bitcoin network exceeding levels seen in Poland as of May 2025.
• Rosneft's CEO highlighted the need for significant investments in infrastructure and human capital to support the development of high technologies and the energy sector's role in meeting these demands.

Statistics:

• Energy sector labor productivity increase: 1.5 percentage points for developed countries and 1 percentage point for developing countries over 10 years (Goldman Sachs)
• Electricity needs of one 100-megawatt data center: comparable to the consumption of 100,000 households (International Energy Agency)
• Forecasted electricity consumption of data centers in 2030: 1,000 terawatt-hours (International Energy Agency)
• Energy consumption of the Bitcoin network as of May 2025: exceeds levels seen in Poland (Rosneft CEO)

Sources:

• Rosneft -- Rosneft -- Department of Information and Advertising of PJSC NK Rosneft, June 21, 2025
• Goldman Sachs (no specific date mentioned in the source)
• International Energy Agency (no specific date mentioned in the source)
• Rosneft CEO Igor Sechin, XXVIII St. Petersburg International Economic Forum