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 |
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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.
