Russia energy report

• The new energy strategy targets a 50% reduction in energy intensity between 2010 and 2035.
• Gazprom and Rosneft dominate gas and oil production with 68% and 40% of total production, respectively.
• Rosseti is the main power transmission and distribution company.
• Gas production has increased by 11% since 2015.
• Electricity generation is dominated by natural gas (45%).
• In 2020, nuclear generation was 21% higher than in 2014, with the commissioning of 4 units.
• Oil product prices are more than 50% lower than in the EU.
• Gas prices for households are 10 times below the EU average.
• Gas supplies over half of the energy consumed.
• Total energy consumption increased rapidly between 2015 and 2019, despite low economic growth, but dropped by 5% in 2020.
• Investments in the energy sector are strongly impacted by international sanctions and by the Covid-19 crisis.
• LNG production is slated to grow to over 160 Mt/year in 2035.

• 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:

  Russia is the second largest gas producer in the world behind the USA. Gas production increased by about 18% between 2015 and 2019 and dropped by 6% to 705 bcm in 2020. Previously, it had decreased from 2013 to 2015, after a progression of 1.4% per year from 2000 to 2013.

• Energy Prices

  Gas:

  The price of gas is controlled by the State and determined according to the cost-plus pricing method. Certain cross-subsidies occur, in particular between industry and the residential sector.

• Energy Consumption

  Total per capita consumption reached 5.1 toe in 2020. Per capita electricity consumption was around 6 250 kWh.

  Total energy consumption increased rapidly between 2015 and 2019 (2.6%/year) and then dropped by 5% in 2020, back to 2018 levels.

• Issues & Prospects

  Oil:

  Russia is faced with the depletion of cheap oil fields and the necessity to explore new hard-to-reach and expensive-to-develop oil resources, growing corporate concentration and increasing problems regarding access to financing. The fall in oil prices in 2020 will be a challenge for this sector.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Russia energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2020, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2020, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Electricity prices for industry and households (US$c/kWh)
• GRAPH 7: Gas prices for industry and households (US$c/kWh GCV)
• GRAPH 8: Consumption trends by energy source (Mtoe)
• GRAPH 9: Total consumption market share by energy (2020, %)
• GRAPH 10: Final consumption market share by sector (2020, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2020, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2020, %)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2020, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2020, %)

In the Russia energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The Russia country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

• Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
• Power: Electricity generation & capacities, by technology.
• CO₂: Total CO₂ emissions.
• Macro-economy: Main macro-economic assumptions.
• Key indicators: Energy intensity, share of renewables, CO₂ emissions per capita and per unit of GDP.