Russia's LNG facility on Sakhalin island
Is Russia lost in transition?
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
Russia’s traditional strength as an energy superpower has relied on its fossil fuel wealth. Yet before its invasion of Ukraine in February 2022, Moscow had also set its sights on taking a leadership role in the global transition to cleaner energy, leveraging its substantial natural gas resources and CO₂ storage potential to become a major supplier of low-carbon hydrogen and carbon storage space to the rest of the world, as well as its vast forests to generate carbon credits. International sanctions have largely pulled the rug out from under these ambitions, barring access to critical technologies and markets for hydrogen, CCS services and carbon credits, constraining budgets and limiting int
Also in this section
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
