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Russia energy report

Russia energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
76 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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Overview

Russia’s energy sector remains heavily reliant on hydrocarbons, with gas dominating both production and consumption. Recent policy shifts emphasise expanding renewables, hydrogen exports, and nuclear capacity, though fossil fuels retain strategic importance. Market reforms and sanctions have reshaped trade flows, redirecting exports toward Asia while accelerating domestic infrastructure development.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • Oil and gas revenues rebounded by 18% in 2024, after dropping by about a quarter in 2023. Russia aims to add 12 GW of renewables capacity and export between 2 and 7 Mt/year of hydrogen by 2035.
  • Rushydro, Gazprom, Inter Rao, and Rosenergoatom together own around 60% of the total power capacity. Gazprom dominates gas production with around half of total output. Rosneft is the main oil producer, with more than a third of total production. Western energy companies left the country.
  • Gas exports have dropped by 36% since 2021 due to EU restrictions. Russia lifted restrictions on oil production in 2025, after cutting it by 0.5 mb/d until the end of 2024.
  • Final energy consumption has increased by 2%/year since 2022. Industry absorb almost half of this consumption.
  • Power production should grow by 1.4%/year to 1 400 TWh in 2035.
  • Fifteen nuclear reactors are currently under construction or development, of which two are expected in 2025 and the others by the early 2030s.
  • LNG production is slated to grow by 11%/year by 2035 to 140 Mt.
90%
share of fossil fuels in total energy consumption (2024)
+12 GW
of renewables in 2035
-36%
gas exports since 2021 due to sanctions

  • Energy & Climate Policy Framework

    The Ministry of Energy ("Minenergo") is responsible for developing and implementing the country's energy policy.

  • Energy Companies

    Gas:

    Gazprom (State-owned at 50% plus one share) produced 355 bcm of gas in 2024, down from 359 bcm in 2023 (-1%); this represents 50% of total gas production. Gazprom's reserves reached 27 747 bcm in 2023 (59% of the country's reserves and 13% of global reserves). Gazprom decreased its gas exports to non-CIS countries by 46% in 2022 (from 185 bcm in 2021 to 101 bcm in 2022).

  • Energy Supply & Demand

    Resources:

    Russia owns large energy resources. Natural gas reserves are estimated at 46 832 bcm (end of 2024), i.e. 23% of proven world reserves. Oil reserves (14.8 Gt as of 2024) represent about 6% of world reserves.

  • Energy Use and Price by Sector

    Energy Prices in Industry:

    The electricity price for industrial consumers is US$4c/kWh (+5%). It experienced a significant decrease in 2023 (-20%), after an increase in 2022 (+14%). Previously, these prices decreased by 3%/year, between 2019 and 2021.

  • Issues & Prospects

    Electricity:

    According to the Russian Federation Energy Strategy until 2050 (2025), the installed capacity is set to increase from 253 GW in 2023 to at least 275 GW by 2030, 287 GW by 2036, and 331 GW by 2050, and the renewable capacity is expected to rise by more than 40% by 2050.

  • Graph 1: Final Intensity to GDP
  • Graph 2: Primary Consumption Trends by Energy Source
  • Graph 3: Total Consumption Market Share by Energy (2024)
  • Graph 4: Installed Electric Capacity by Source
  • Graph 5: Installed Electric Capacity by Source (2024)
  • Graph 6: Gross Power Production by Source & Consumption
  • Graph 7: Power Generation by Source (2024)
  • Graph 8: CO2 Intensity of Electricity Generation
  • Graph 9: Crude Oil Production & Consumption
  • Graph 10: Petroleum Products Production & Consumption
  • Graph 11: Gas Production & Consumption
  • Graph 12: Coal Production & Consumption
  • Graph 13: Emissions of GHG and CO₂ from Fuel Combustion
  • Graph 14: CO₂-Emissions per Capita
  • Graph 15: CO2 Intensity to GDP
  • Graph 16: Final Demand Trends by Energy Source
  • Graph 17: Final Consumption by Sector
  • Graph 18: Final Consumption Market Share by Sector (2024)
  • Graph 19: Share of Electricity in Total Final Energy Consumption
  • Graph 20: Final Consumption in Industry by Energy Source
  • Graph 21: Energy Prices in Industry (Taxes Included)
  • Graph 22: Final Consumption in Transport by Energy Source
  • Graph 23: Energy Prices in Transport (Taxes Included)
  • Graph 24: Final Consumption in Residential, Services, Agriculture by Energy Source
  • Graph 25: Energy Prices in Residential (Taxes Included)
  • Graph 26: Upcoming New Capacity by Energy Source
  • 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.

The Russia energy market data since 1990 and up to 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:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Russia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Russia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

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.