Russia’s New Energy Strategy 2030: Reflections on Novelty, Impediments and Implications

Oil, Gas & Energy Law (OGEL), Published 27 November 2009 —

[Abstract]: The current work presents some considerations on the newly endorsed Energy Strategy of the Russian Federation until 2030 (the Strategy). The paper does not adhere strictly to the logic of the original document. Rather, the author’s intention is to acquaint readers with the Strategy’s principal provisions, offering a view on the type of weaknesses this long-term policy document reveals and what sort of implications for the foreign partners’ policies the Strategy is likely to invoke.

As a general observation, the Strategy can be perceived as a display of Russia’s more co-operative spirit. Importantly, the avenues for cooperation stretch both inside and outside of Russia.

Domestically, the tremendous tasks of overcoming the industry’s critical technical and technological challenges comes first on the policy agenda. Development through investment and innovation is a bottom line of domestic transformation. Bearing in mind the scope of the latter, they can hardly be accomplished without a fundamental shift towards cooperation.

Externally, the very recent moves, such as Russia’s stance on the terms for its accession to the WTO and the country’s ultimate refusal to join the ECT, have definitely darkened the overall horizon for multilateral cooperation. Therefore, most probable scenario – at least in a near-term perspective – would be that Russia’s involvement in energy affairs will be unfolding predominantly through the bilateral mode. Once the grounds are shaped by the parties’ reciprocally respected considerations and governed by the principle of equal mutual benefits, the companies will have room for business manoeuvring.

Source: Russia’s New Energy Strategy 2030: Reflections on Novelty, Impediments and Implications – Advance publication – Journal – OGEL Journal (Oil, Gas & Energy Law Intelligence) – Global Energy Law & Regulation Portal.