Russian Energy Storage Export Company

How has Russia's export strategy evolved over the past year?

In this commentary, the authors explore how Russia’s export strategy has evolved over the past year in the face of mounting adversity and what it means for the world. In 2023, Russia exported an estimated 142 bcm of gas, down sharply from around 244 bcm in 2021.

How much electricity does Russia generate?

Russia generated 44% of its electricity from natural gas, followed by 20% from nuclear, 19% from hydroelectric, and 15% from coal. Oil, other renewables, and other sources each represented less than 1% of Russia’s electricity generation in 2021 and 2022. 48

Which oil refinery supports Russia's domestic market?

The Omsk refinery supports Russia’s domestic market with an installed refining capacity of over 441,000 b/d of crude oil and a light petroleum product yield of 80%. Gazprom Russia’s second-largest oil producer and third-largest refiner by capacity. 21

Will Russia supply gas to Iran?

He also implied that Russia would supply gas to northern Iran and that Iran could supply gas extracted from its southern fields to Pakistan and India through another potential pipeline project, the Iran-Pakistan-Indian pipeline—even though the Pakistani and Indian sections have yet to be financed and built. [xxix]

Are Russian LNG exports stable?

Russian LNG exports, however, have remained relatively stable, hovering between 41 and 45 bcm/y between 2021 and 2023, with heavy maintenance at the Sakhalin-2 and Yamal LNG liquefaction plants last year. [viii] Around half of this LNG is exported to EU countries, a trend that has been increasing since 2021.

What challenges will Russia face in expanding LNG export capacity?

Four types of challenges confront Russia’s plans to expand LNG export capacity: restricted access to Western liquefaction technology, US sanctions on Russian entities, logistical issues related to shipping, and the need to find buyers for the additional output.