Risks of operation of the Russian gas industry in the newest conditions

Abstract

The article analyzes the risks and limitations faced by the Russian gas industry in recent years. Russian gas sector faced with the negative influence of a number of internal and external factors («the perfect storm»). Currently, there is unprecedented pressure, that include not only falling export revenues, but also technological limitations. The Russian gas sector has been able to partially adapt to new operating conditions – a more flexible method of gas monetization is coming to the fore. Pipeline gas is increasingly losing its role as the basis for the development of the gas sector in the medium term, giving way to liquefied natural gas. The key factors limiting the operation of the industry are technological risks and restrictions in gas production and liquefied gas production, resource base limitations, risks on the side of the gas transportation system, as well as institutional risks and restrictions. In addition to development difficulties, new restrictions make it possible to reconsider the role of the gas sector in the economy: use more flexible approaches to export issues, develop domestic demand for gas, promote the development of independent gas production companies, and implement programs to support domestic manufacturers of a wide range of gas equipment and gas carriers.