Russian President Vladimir Putin and Novatek CEO Leonid Mikhelson at Arctic LNG 2 in 2023
Russia’s implausible gas strategy
The country may have the resources, but sanctions and a lack of market access make its gas ambitions look very questionable
Russia approved a comprehensive new 2050 energy strategy in April, targeting significant growth in gas production and exports while seeking to maintain stable oil production. While energy strategies tend to be more aspirational than realistic, Moscow’s gas ambitions lack credibility—even without the added challenges posed by Western sanctions. The Russian government had been preparing its latest long-term energy strategy for over two years, with delays attributed to the highly volatile macroeconomic conditions resulting from sanctions and other fallout from Moscow’s invasion of Ukraine. In the base case, ‘inertial’, scenario of the plan, published on 14 April, gas output is projected to rise
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
