Cost dynamics in the Russian energy sector

摘要

After a significant increase during the 2004-8 period, when a combination of rising global energy demand and increasing consumption of Russian hydrocarbons in international and domestic markets created inflationary pressure, the period 2009-14 saw energy costs stabilize but at a relatively high level. In addition to the pressure created by booming energy markets, a number of additional factors also drove up the cost of producing hydrocarbons in Russia.