Current Trends and Problems of Development of the Oil and Gas Industry in the Context of Import Substitution and Transition to Low-Carbon Energy

Never before has it been more important for business, academia, NGOs, policymakers, and the general public to work together to conserve the environment and create common political decisions that will protect future generations. In the face of increasing climate concerns and the intensive development of the renewable energy sector, oil and gas companies need to develop strategies to not only comply with the new rules of the game but to also benefit from them. The scope of this work is to give a general overview of the challenges faced by the modern Russian oil and gas industry, as well as offer various options for adapting energy sector companies to new realities. As a result of the work, the conditions that characterize the state of the energy sector in Russia, taking into account sanctions restrictions and geopolitical changes, were determined. Directions for the development of national energy during the period of decarbonization of world energy are also proposed.