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
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
17 October 2025
The business case for CCS is strengthening as costs decline, but deployment must accelerate to align with credible net-zero scenarios
17 October 2025
The black-tie gala recognised the energy industry’s leading innovations and thought leaders from across the value chain
