2nd
largest gas producer worldwide
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This analysis includes a comprehensive Russia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2020 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
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Highlights
2nd
largest gas producer worldwide
12 GW
of renewables in 2035
40%
share of carbon free sources in power mix
Abstract
Institutions & Energy Policy
The Ministry of Energy is responsible for developing and implementing the country's energy policy.
Energy Companies
Oil:
Rosneft (Federal Government 40.4%, BP 19.5%, QH Oil Investment 18.93%) is the largest oil company, accounting for around 40% of total oil production (2020). In 2018, QH Oil Investment acquired 18.93% of Rosneft for US$4.25bn. In 2017, Rosneft acquired a 49% stake in Essar Oil's (India) for around US$13bn. In 2016, Rosneft acquired 50.08% of Bashneft (400 kb/d) for US$5.2bn.
Energy Supply
Gas:
Gas production increased by about 18% between 2015 and 2019 and dropped by 6% to 722 bcm in 2020. Previously, it had decreased from 2013 to 2015, after a progression of 1.4% per year from 2000 to 2013. Russia is the second largest gas producer in the world behind the USA.
Energy Prices
Oil:
The Government liberalised the price of oil products. Diesel and gasoline prices follow international oil prices: they increased slightly between 2016 and 2019 and stood at US$0.67/l and US$0.63/l in 2020. Oil product prices are more than 50% lower compared with the European Union.
Graph: GASOLINE & DIESEL PRICES (US$/l)
Energy Consumption
Total per capita consumption reached 5.1 toe in 2020. Per capita electricity consumption was around 6 280 kWh.
Total energy consumption increased rapidly between 2015 and 2019 (2.6%/year) and then dropped by 4% in 2020.
In 2020, gas represented the largest share of consumption (55%), followed by oil (19%), coal (15%), nuclear (8%), hydro (2%), and biomass (1%).
Issues & Prospects
Gas:
Gas production prospects were revised by the government in May 2021: Russia is now expected to produce 698 bcm of gas in 2021 (-6.9%), 743 bcm in 2022 (-2%), 773 bcm in 2023, and 795 bcm in 2024 (unchanged); LNG production is still expected to average 30 Mt in 2021.
Below is a list of the Russia energy market report graphs:
In the Russia energy market report you will find the following tables:
The Russia energy market data since 1990 and up to 2020 is included in the Excel file accompanying the Russia country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
The Russia country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
Projections Data (Excel Sheet)
The Russia country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.
Data included in the excelsheet:
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