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Russia’s Sanction Resilience May Falter Amid Tech Gaps: Platts

ENERGY
Energy BulletsCommodities

Russia has shown resilience against oil and gas sanctions, but this may be short-lived as it has not found a market as profitable as Europe for its exports and lacks key technology in the sector, experts told Platts.

  • "When you look under the hood, and you look at the different sub-sectors within the oil and gas industry, you see a surprising level of distress," according to Craig Kennedy, an associate at Harvard University's Davis Center for Russian and Eurasian Studies.
  • Russia can no longer get spare parts for Western technology installed over the last 25 years.
  • While Russia is looking to build a pipeline to China, neither party has the compressor technology to realise the idea.
  • While Russia’s industry is not expected to face issues in the near-term, technological issues will accumulate with time, experts told Platts.
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Russia has shown resilience against oil and gas sanctions, but this may be short-lived as it has not found a market as profitable as Europe for its exports and lacks key technology in the sector, experts told Platts.

  • "When you look under the hood, and you look at the different sub-sectors within the oil and gas industry, you see a surprising level of distress," according to Craig Kennedy, an associate at Harvard University's Davis Center for Russian and Eurasian Studies.
  • Russia can no longer get spare parts for Western technology installed over the last 25 years.
  • While Russia is looking to build a pipeline to China, neither party has the compressor technology to realise the idea.
  • While Russia’s industry is not expected to face issues in the near-term, technological issues will accumulate with time, experts told Platts.