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The ceremony took place at the Constantine Palace’s Marble Hall in Strelna, outside St Petersburg.

The first winners of the prize, established in 2002 by Nobel Prize winner Zhores Alferov with the support of three Russian energy corporations – Gazprom, RAO UES of Russia and Yukos – were American scientists Nick Holonyak and Ian Douglas Smith and their Russian counterpart, member of the Russian Academy of Sciences Gennady Mesyats. Their works were selected from 40 projects submitted by a panel of representatives from 11 countries.

Addressing the ceremony Vladimir Putin described the provision of energy for the world economy and population as one of the most pressing modern problems. A full-scale global energy dialogue, the President said, could promote dynamic economic growth and help address acute social problems.

The head of state stressed the exceptional importance of the work of scientists aimed at finding the most efficient methods of energy use (including environmental concerns) as well as alternative sources of energy.