Main parameters of the Russian energy strategy through until 2035

The project of energy strategy of the Russian Federation through until 2035 has changed dramatically as compared with the first version, made a year ago.

The Ministry of Energy expects the fall in the oil production in the country by 2% by 2020 with risk of reduction by 10% by 2035. Forecasts of the gas production became more modest by reducing the prospects for LNG projects, at the same time officials are ready to allow independent producers to export, while maintaining a single channel of sales in the face of Gazprom.

The Russian energy strategy through until 2035 was planned to be adopted at the beginning of 2014. But the document had to be radically redesigned, given the effects of Western sanctions, economic slowdown and decreased oil prices. Now the Energy Ministry, which prepared the draft, expects the decline in the oil production in Russia by 11 million tons to 514 million tons even by 2020 in the target scenario.