Market Size of Russian Federation Oil and Gas Downstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Russian Federation Oil & Gas Downstream Market Analysis
The market for Russian Federation oil and gas downstream is expected to grow at a CAGR of less than 3.5% during the forecast period of 2020 - 2025. Factors such as increasing demand for oil and natural gas and expansion in the oil refining sector are expected to boost the growth in the Russian Federation oil and gas downstream market during the forecast period. However, continued sanctions by the United States and member states of the European Union have hampered the prospects of significant development in the industry.
- Russia is the world's largest oil and gas exporter, and it is seeking ways to expand its refining industry to increase value from its vast hydrocarbon reserves rather than relying on sales of raw energy products. The task is being progressed, in 2019, mostly by the government-owned companies.
- Two new fields in the Yamal region have been discovered in the Russian Federation. They are expected to contain total reserves of more than 500 billion cubic meters (bcm) of gas. Production of the fields may act as an opportunity for further growth in the sector.
- Increasing consumption and production of natural gas is expected to boost the growth in the oil and gas sector. Oil production and consumption has grown slightly in 2017 - 2018 period.
Russian Federation Oil & Gas Downstream Industry Segmentation
The Russian Federation oil and gas downstream market report include:
| Refineries | |||||
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| Petrochemicals Plants | |||||
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| LNG Terminals | |
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| Key Projects |
Russian Federation Oil and Gas Downstream Market Size Summary
The Russian Federation oil and gas downstream market is poised for growth, driven by increasing demand for oil and natural gas and expansion in the refining sector. As the world's largest oil and gas exporter, Russia is focusing on enhancing its refining industry to derive greater value from its extensive hydrocarbon reserves, reducing reliance on raw energy product sales. Despite the challenges posed by ongoing sanctions from the United States and European Union member states, the sector is witnessing developments such as the discovery of new gas fields in the Yamal region, which are expected to contribute to future growth. The expansion and modernization of key refineries, including the Tuapse, Orsk, and Novokuibyshev refineries, are anticipated to boost refining capacity, with the Omsk Refinery, a leading facility, undergoing significant upgrades.
The market's growth is further supported by rising oil and natural gas production and consumption, with notable increases observed in recent years. Investments in the sector, such as the agreement to build a large petrochemical plant by China National Chemical Engineering Co. Ltd. and Baltic Chemical Complex, are expected to drive further expansion. The market is characterized by a consolidated landscape, with major players including PJSC Rosneft Oil Company, PJSC Lukoil Oil Company, PAO NOVATEK, PJSC Gazprom, and PJSC Surgutneftegas playing pivotal roles. These developments underscore the sector's potential for growth, despite external challenges, as Russia continues to leverage its vast energy resources.
Russian Federation Oil and Gas Downstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Refining Installed Capacity and Forecast, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraint
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Refineries
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2.1.1 Overview
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2.1.2 Key Projects
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2.1.2.1 Existing Infrastructure
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2.1.2.2 Projects in pipeline
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2.1.2.3 Upcoming projects
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2.2 Petrochemicals Plants
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2.2.1 Overview
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2.2.2 Key Projects
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2.2.2.1 Existing Infrastructure
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2.2.2.2 Projects in pipeline
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2.2.2.3 Upcoming projects
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2.3 LNG Terminals
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2.3.1 Overview
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2.3.2 Key Projects
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Russian Federation Oil and Gas Downstream Market Size FAQs
What is the current Russian Federation Oil and Gas Downstream Market size?
The Russian Federation Oil and Gas Downstream Market is projected to register a CAGR of less than 3.5% during the forecast period (2024-2029)
Who are the key players in Russian Federation Oil and Gas Downstream Market?
PJSC Rosneft Oil Company, PJSC Lukoil Oil Company, PAO NOVATEK, PJSC Gazprom and PJSC Surgutneftegas are the major companies operating in the Russian Federation Oil and Gas Downstream Market.
