Energy sector in Russia - statistics & facts

Russia has one of the leading energy sectors worldwide, producing some of the largest volumes of oil, gas, and electricity. Furthermore, it is the fourth largest consumer of primary energy, following China, the United States, and India. At the same time, Russia has one of the lowest residential electricity prices, at only 0.06 U.S. dollars per kilowatt-hour in June 2022. Thus, the country's households paid for electricity nearly nine times less than in Germany and almost eight times less than in the United Kingdom (UK). Russia is home to some of the leading energy companies across the globe, such as Gazprom, Lukoil, and Rosneft. In 2022, seven out of ten Russians stated that it was important to them that their country shifts away from fossil fuels.

Russia’s dependence on energy revenues

Rich in fossil fuels, Russia grew highly dependent on energy exports over the past decades. In the first quarter of 2022, the oil and gas industry occupied nearly 22 percent of the country’s gross domestic product (GDP); however, this share has decreased steadily since the war in Ukraine. European Union (EU) members banned seaborne crude oil and oil product imports from Russia in response to the invasion, while the United States completely prohibited imports of Russian fossil fuels (oil, gas, and coal). Furthermore, the G7 countries placed a price cap on Russian crude oil and oil products. As a result, Russia increased energy exports to China, India, and Turkey. For instance, in the first eight months of 2022, Russia’s seaborne crude oil exports to India grew more than fivefold.

Outlook for the Russian energy sector

Hit by the Western sanctions, Russia was expected to decrease its oil production. In 2023, the country was forecast to produce approximately 10.4 million barrels of crude oil daily, down from 10.8 million barrels per day two years prior. Russia’s gas production was to decline by around 12 percent in 2022 compared to the previous year but gradually increase until 2025. In total, Russian pipeline gas exports to the EU were to drop by 55 percent between 2021 and 2025 under the base scenario. However, forecasts on Russian energy trade are uncertain because the trade flows will depend on global demand trends, national policies of importing countries, and the cost of alternatives to Russian energy sources.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Dec 21, 2023

Key insights

Russia's rank in global natural gas production
2nd
Russia's rank in global oil production
3rd
Russia's rank in global electricity production
4th
Get more insights

Editor’s Picks Current statistics on this topic

Primary energy consumption in Russia from 2012 to 2022 (in exajoules)

Energy

Primary energy consumption in Russia 2012-2022

Total installed capacity of electricity generation in Russia from 2017 to 2023 (in gigawatts)

Electricity

Russia: installed electricity generation capacity 2017-2023

Distribution of electricity generation in Russia in 2022, by source

Electricity

Power production breakdown in Russia 2022, by source

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