Russian Federation upstream: 5 things to look for in 2021

What's inside this year's report?

2021 will be a pivotal year for Russia as it takes on the role of chair of the Arctic Council. Rosneft will ramp up exploration and appraisal activity at the Vostok Oil project and announce discoveries of global significance in the Arctic, both onshore and offshore.

We also expect progress at LNG projects, such as Arctic LNG-2 and Portovaya LNG, to cement Russia’s growing role in global LNG supply, while gas developments in eastern Russia move forward, unlocking value from remote projects.

Read Russian Federation upstream: 5 things to look for in 2021 to find out more about our experts’ predictions for the year ahead. This includes:

1. East Russia – gas leads the way
2. Arctic LNG-2 financing to be finalised
3. M&A – divest elsewhere to grow in the Arctic
4. Arctic – exploration and appraisal success to continue
5. Energy transition efforts will remain subdued.

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