Title: Energy policy of Russia - Wikipedia
Headings: Energy policy of Russia
Energy policy of Russia
Contents
Energy Strategy
Natural gas
Oil
Electricity
Climate change
Renewable energy
Russia and OPEC
Energy usage
Energy in foreign policy
Energy disputes
Azerbaijan and Armenia
Belarus
Czech Republic
Georgia
Lithuania
Poland
Ukraine
EU-Russia Energy Dialogue
Ratification of the Energy Charter Treaty
Controversies
Corruption
Oil-for-Food Programme
OPEC temporarily lowering the price of oil
See also
Footnotes
References
External links

Content: Recent developments such as Yen-Yakhinskoe, Yuzhno-Russkoye and West Pestsovoe in the Nadym-Pur-Taz area, which have all come on-stream since 2005, are relatively cost-efficient, being located close to the existing pipeline grid and other infrastructure. But they are not large enough to compensate for the decline in Gazprom's three core assets. Thus, the much larger Shtokman and Yamal developments will have to provide the bulk of new production capacity, by adding 70 and 200 BCM per year, respectively. Investments in the development of Shtokman and Yamal are forecast to account for over 40% of Gazprom's total expected capital expenditure over the next 20 years. Although Shtokman has been shelved at least for the time being due to relatively low gas prices and high costs, the project may still be resuscitated during the coming decades, depending on developments in unconventional gas and the supply–demand picture. Meanwhile, work on the largest field on the Yamal Peninsula, Bovanenkovo, is forging ahead. In any case, the complexity of these projects drives high field development costs, which in turn require a high gas price to be profitable. The Energy Strategy foresees non-Gazprom production rising from a share of 17% in 2008 to 25–30% by 2030, implying growth from 114 to about 245 BCM/year. The main export markets of Russian natural gas are the European Union and the CIS. Russia supplies a quarter of the EU gas consumption, mainly via transit through Ukraine (Soyuz, Brotherhood) and Belarus ( Yamal-Europe pipeline ).