Energy Law: From Challenges to Opportunities

The global energy industry is experiencing an era of structural transformation caused by fundamental political and economic processes and new trends. Some of the key trends that will influence the global energy industry in the long term include: underinvestment in the oil and gas sector, the priority of energy security, the politicization of international environmental and climate activities, and the use of global financial infrastructure and illegitimate unilateral restrictions by unfriendly countries to engage in unfair competition. Against this backdrop, the Energy Strategy approved by the Russian government sets a new long-term timeline for projects in the oil and gas sector and focuses on transitioning from adaptation to external and internal challenges to accelerated development, while ensuring that Russia retains its role as one of the leading suppliers in the energy sector. What legal environment is the most conducive to implementing promising infrastructure projects, and can legislation be designed for such a long period? What strategic regulatory decisions should serve as a reliable foundation for long-term stability and ensuring the country’s energy sovereignty? Does the energy market still have untapped potential?