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Russia’s New Energy Strategy: on Paper and in Fact

Russia’s New Energy Strategy: on Paper and in Fact

Vladimir Putin declared the need for an urgent update of strategic documents on the fuel and energy sector as far back as 14 April 2022.

The Energy Strategy to 2050 was originally supposed to be approved before 15 September 2022, yet it was never adopted even as of November 2023. Moreover, not even a draft of the ES 2050 has been published yet.

On the one hand, this vividly demonstrates the attitude to strategic documents on energy. It turns out that the industry on the whole copes with the unprecedented pressure of sanctions even without official strategies. On the other hand, Russian oil and gas has been facing really serious challenges that cannot be taken lightly. And immediate problems are a reflection of long-term threats too.

You will find the following subjects in the new NESF report:

Evolution of the Energy Strategy development and approval mechanism

How the previous strategies were drawn up and why they never became documents actually setting the framework for oil and gas industry development in Russia
Birth injuries of Energy Strategies
Major oil and gas corporations’ attitude to the Energy Strategy

Preliminary results of the implementation of the Energy Strategy 2035

Whether the stated indicators for 2024, the period when an interim stage of the ES 2035 implementation ends, will be achieved

Strategic goal-setting:

What tasks Vladimir Putin laid down to the ES 2050 authors

How work on the ES 2050 is getting on

Why the document has not seen the light of day to date

Actual strategic fork:

Fossil fuels vs. the energy transition
How Russian authorities see this dilemma and how the role of fossil fuels is perceived in the medium term

New version of the climate doctrine:

Greenwashing or an actual turn in energy policy

Strategic problems in oil and gas

Actual challenges to Russian oil and gas exporters

Contents of the report:

INTRODUCTION	3
ENERGY STRATEGY 2050: TASK-SETTING	5
EVOLUTION OF ENERGY STRATEGY DRAFTING AND ADOPTION MECHANISM	10
PRELIMINARY RESULTS OF ENERGY STRATEGY 2035 IMPLEMENTATION	19
HOW ENERGY STRATEGY 2050 IS DRAFTED. MAIN PROBLEMS	30
KEY INDUSTRY FORK: FOSSIL FUELS VS. ENERGY TRANSITION	36
ACTUAL STRATEGIC PROBLEMS IN OIL AND GAS	45

Date of release:	January 9, 2024

If you are interested to obtain please contact » Elena Kim

Other issues:

Special report:

Nord Stream 2 and Ukraine: Costs Should Decide

There has been much discussion about how Russia – Europe’s biggest gas supplier – can continue to supply gas to Europe over the coming decades in the most secure and cost efficient way. Gazprom and its European partners have decided that building two additional pipelines through the Baltic Sea (Nord Stream 2) is the best commercial solution to secure future gas supplies for the EU, where gas production continues to decline and demand is expected to grow.

Shale Revolution: Myths and Realities

The boom in shale gas production in the US and its wide-ranging influence on markets rocked the gas world. Liquefied gas deliveries were redirected, altering the already fragile balance of demand and supply in traditional markets for pipeline gas in Europe.

Liquefied Natural Gas Outlook: Expectations and Reality

World market has shown interest to liquefied gas. Russia has so far been aside of it. However, producers have announced several large LNG projects. The new study will help investigate this delicate subject and understand what is in store for LNG production and export in the nearest years.

Analytical series “The Fuel and Energy Complex of Russia”:

Northern Logistics Route: Should One Expect a Breakthrough?

The Northern Sea Route and the Arctic in general were made a state priority even before the conflict in Ukraine. The key question is: can nice talk about the NSR as a profitable and strategic route and about Russia’s return to the Arctic be converted into actual breakthroughs making it possible to carry out at least the executive’s own plans? The strategic content concerning the NSR is relatively new, but many problems are old.

Current Status of Russian Oil Exports

Getting over the 2022-2024 sanctions is the most important test for the Russian oil industry. After the US, United Kingdom, EU, and G7 introduced a ban on buying Russian oil and petroleum products (with some exceptions) and the price cap mechanism, Russia managed to find alternative sale options in countries that are now commonly called the “Global South”. However, it is important to consider exports in detail. This is what we do in the new NESF report.

Green and Climate Agenda: Reset Attempt

In spite of dramatic worsening of relations with the West, the subject of climate has not vanished from Russian economic plans. Environmental issues have even topped the list of declared problems.

Government 2024: New Configuration of Regulators

While the result of the presidential election in Russia was absolutely predictable, further moves forming new government agencies were more intriguing. Eventually, on the one hand, it would seem that Putin chose to avoid radical decisions on the civilian part of the Cabinet. Prime Minister Mishustin kept his post and almost all deputy prime ministers did. On the other, there are still meaningful changes. First of all, the Ministry of Energy got a new head. This alone deserves special attention.

Lithium: New Energy Eldorado?

The energy transition is, on the one hand, rightly perceived by Russian oil and gas companies as a threat to their business. On the other, one should also look for new opportunities in the new energy industry. One of them is the production of lithium, the most important resource for electric vehicle batteries. The industry is rapidly growing, which opens up new horizons, for conventional fuel and energy companies, among others. Lithium is already beginning to cause increased interest in Russia, which calls for close scrutiny of the topic.

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07

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