Implications of sectoral sanctions on Russia’s gas sector
| Title: | Implications of sectoral sanctions on Russia’s gas sector |
| Author: | Sung, Jinsok |
| Organization: | Bank of Finland |
| Department / Unit: | Institute for Economies in Transition (BOFIT) |
| Series: | BOFIT Policy Brief |
| ISSN: | 2342-205X |
| Series year: | 2020 |
| Series number: | 12/2020 |
| Year of publication: | 2020 |
| Publication date: | 3.12.2020 |
| Pages: | 18 |
| Subject (yso): | talouspakotteet; vaikutukset; maakaasu; kaasuntuotanto; öljy; öljyteollisuus; kaasuputket; energiayhtiöt; yritykset; vienti |
| Keywords: | Bofit-kokoelma; Venäjä |
| Other keywords: | natural gas market; sectoral sanctions; localization |
| Abstract: | This paper considers the implications of Western economic sanctions on Russia’s natural gas sector. Despite exposures to increased risk to the gas industry, companies in the sector accelerated localization of imported technologies and moved into new markets. Recent evidence of this shift includes the launch of pipeline gas exports to China in 2019 and development of LNG capabilities to serve the global market. |
| Table of contents: | Contents Abstract .....3 1. Introduction.....4 2. Western sectoral sanctions on the Russian oil and gas industry.....5 3. Russian gas projects influenced by US sanctions.....7 3.1. Yamal LNG......7 3.2. Yuzhno-Kirinskoe field.....8 3.3. Nord Stream 2 pipeline .....9 4. Russian gas companies respond to sanctions.....9 4.1. Localization of LNG technology and shipping capabilities.....9 4.2. Acceleration of market diversification.....12 5. Conclusions.....13 References.....14 |
| Rights: | https://helda.helsinki.fi/bof/copyright |
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