Key Features of Decarbonization in Russia’s Oil and Gas Companies in the Context of Northern and Arctic Resource Development

Annotation

The current economic and environmental agenda presents complex challenges for enterprises in the energy sector. In the context of simultaneous growth in global energy consumption, the continued dominance of fossil fuels in the energy mix, and increasingly demanding international climate policy requirements, oil and gas companies are compelled to transition toward more sustainable operational models. One of the key directions of such transformation is decarbonization. This study aims to conceptualize decarbonization in relation to the specific characteristics of the Russian oil and gas sector. Four dominant approaches to interpreting this phenomenon are identified, and a refined definition is proposed, adapted to the operational conditions of oil and gas companies. Particular attention is paid to the specific features of the Russian oil and gas industry, including the concentration of production capacity in the Arctic region, which is highly sensitive to the consequences of climate changes. Based on empirical data from major Russian companies, current trends in greenhouse gas emissions reduction are analyzed, including instances of decreased decarbonization efficiency and, conversely, emission growth. The study systematizes the key internal and external factors influencing the choice of decarbonization strategies: the political and legal conditions, the structure and quality of the resource base, the degree of state participation, the geographical distribution of assets, and emission dynamics. It is revealed that there is a lack of unified targets or regulatory guidelines for emission reductions in the oil and gas industry, which leads to fragmentation in the strategies and variability in the selection of instruments for achieving carbon neutrality. As a result of the study, a conceptual vision of decarbonization for Russian oil and gas companies is developed, encompassing promising development directions and the specific nature of industry transformation under the conditions of Northern and Arctic resource development.

About authors

Natalya V. Romasheva, Cand. Sci. (Econ.), Researcher
Luzin Institute for Economic Studies – Subdivision of the Federal Research Centre “Kola Science Centre of the Russian Academy of Sciences”, ul. Fersmana, 24a, Apatity, Russia
natasmir84@mail.ru, ORCID: https://orcid.org/0000-0003-3074-5137

Diana M. Dmitrieva, Cand. Sci. (Econ.), Associate Professor, Researcher
Saint Petersburg State University, Universitetskaya naberezhnaya, 7/9, Saint Petersburg, Russia
d.dmitrieva@gsom.spbu.ru, ORCID: https://orcid.org/0000-0002-4208-4842

Alexey M. Fadeev, Dr. Sci. (Econ.), Chief Researcher, Professor
Luzin Institute for Economic Studies – Subdivision of the Federal Research Centre “Kola Science Centre of the Russian Academy of Sciences”, ul. Fersmana, 24a, Apatity, Russia
Peter the Great St. Petersburg Polytechnic University, ul. Polytechnicheskaya, 29, Saint Petersburg, Russia
FadeevTeam@yandex.ru, ORCID: https://orcid.org/0000-0002-3833-3316

Angelica A. Ordina
Gazprom Flot LLC, Moskovsky pr., 139, Bldg. 1, Saint Petersburg, Russia
lapina24@mail.ru

Antonina A. Tsvetkova, PhD in Business Management, Associate Professor
Molde University College, Britvegen 2, NO- 6410, Molde, Norway
antonina.tsvetkova@himolde.no, ORCID: https://orcid.org/0000-0002-6048-8162

Keywords

decarbonization, greenhouse gases, climate agenda, CO2 emissions, oil and gas companies, concept, fields, North, Arctic

DOI

https://doi.org/10.37482/issn2221-2698.2026.64.113

UDC

[338.26:622](985)(045)