Don't hold your breath for Russian shale
The Bazhenov deposit holds a lot of oil, but a repeat of the American shale bonanza is by no means imminent
Russia's renewed efforts to stimulate a shale energy revolution have been dismissed by some as a "science project", despite the involvement of Gazprom, the state-controlled behemoth. Gazprom Neft, the company's oil division, unveiled an ambitious drilling programme in late June, after announcing it is ready to move into the next phase of development of unconventional oil reserves in the Bazhenov play in Western Siberia, which is located below conventional sand-stone reservoirs. The company's target is to produce 73m barrels a year (200,000 barrels a day) of light oil from Bazhenov by the end of 2025. But some analysts are less than impressed. They say Gazprom Neft's efforts have been limited
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
