Russia energy report

• The energy strategy targets a 50% reduction in energy intensity between 2010 and 2035.
• Gazprom and Rosneft dominate gas and oil production with 65% and 37% of total production, respectively.
• Rosseti is the main power transmission and distribution company.
• Western companies are selling their stakes in energy companies.
• After a 5.8% drop in 2020, gas production increased by 9.6% in 2021.
• Electricity generation is dominated by natural gas (46%).
• Five nuclear reactors, totaling 5.5 GW, have been commissioned since 2017.
• Oil product prices are more than 50% lower than in the EU.
• Gas and electricity prices for households are, respectively, 10 and 5 times below the EU average.
• Total energy consumption rebounded by about 9% in 2021 after a 4% drop in 2020.
• Gas supplies 57% of the energy consumed.
• Investments in the energy sector will be strongly impacted by international sanctions linked to the invasion of Ukrainian.
• LNG production is slated to grow to over 140 Mt 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 19.75%, QH Oil Investment 18.93%) is the largest oil company, with a production of 3.91 mb/d (196 Mt in 2021 (+2.3%)), accounting for 37% of total oil production. In 2018, QH Oil Investment acquired 18.93% of Rosneft for US$4.25bn. In February 2022, BP announced that it will exit its shareholding.

• Energy Supply

  Resources:

  Russia owns large energy resources. Natural gas reserves are estimated at 47 808 bcm (end of 2021), i.e. 23.6% of proven world reserves. Oil reserves (14.7 Gt as of 2021) represent about 6% of world reserves.

• Energy Prices

  Electricity:

  The State controls electricity prices for residential consumers only. In 2021, the average price for households was US$4.3c/kWh. Electricity prices for households are 5 times lower than in the European Union.

  Graph: ELECTRICITY PRICES FOR INDUSTRY AND HOUSEHOLDS (US$c/KWh)

  

• Energy Consumption

  Total per capita consumption reached 5.6 toe in 2021. Per capita electricity consumption was around 6 689 kWh.

  Total energy consumption rebounded by about 9% in 2021 after dropping by 4% in 2020. It increased rapidly between 2015 and 2019 (2.8%/year).

• Issues & Prospects

  Electricity:

  According to Russia's "Energy Strategy for 2035", power production should reach around 1 400 TWh in 2035.

  The Ministry of Energy estimated in 2019 that modernising power infrastructures should cost at least RUB250bn (US$3.9bn) through 2024, including an addition of 6,000 km of new transmission lines and more than 3 500 MVA of transformer capacity.

• 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 (2021, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2021, %)
• 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 (2021, %)
• GRAPH 10: Final consumption market share by sector (2021, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2021, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2021, %)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2021, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2021, %)

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.