Is Russia lost in transition?

Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise

Russia’s traditional strength as an energy superpower has relied on its fossil fuel wealth. Yet before its invasion of Ukraine in February 2022, Moscow had also set its sights on taking a leadership role in the global transition to cleaner energy, leveraging its substantial natural gas resources and CO₂ storage potential to become a major supplier of low-carbon hydrogen and carbon storage space to the rest of the world, as well as its vast forests to generate carbon credits. International sanctions have largely pulled the rug out from under these ambitions, barring access to critical technologies and markets for hydrogen, CCS services and carbon credits, constraining budgets and limiting int