Shifting Political Economy of Russian Oil and Gas

Tatiana Mitrova
Head of the Oil and Gas Department, Energy Research Institute (Moscow)

Moderated by:

Edward Chow
Senior Fellow, Energy and National Security Program, CSIS

The CSIS Energy and National Security Program is pleased to host Tatiana Mitrova, Head of the Oil and Gas Department at the Energy Research Institute in Moscow to discuss her latest paper on the Russian energy sector. Russia remains one of the of the world’s largest hydrocarbon resource holders, producers, and exporters. It is a dominant supplier both for Europe and for its neighbors. Russia is now going through an uncertain economic and energy transition. The economic slowdown, ongoing since 2012, was exacerbated in 2014 by the dual external shocks from the sharp decline in oil prices and the implementation of sanctions. Their combination with shifting markets for Russia`s exports is spurring dramatic and impactful changes in the Russian domestic oil and gas strategy. These changes, while not yet complete or conclusive, will impact geopolitics, energy security, oil and gas investment and global hydrocarbon market dynamics for the near to medium future. Mitrova will present the initial findings of her research on how the Russian oil and gas sector is evolving, including an examination of future potential changes under a range of oil price scenarios and potential ways Russia might use to overcome those challenges.