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- 3 files (PDF report, 2 Excel files)
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26 (Report only)
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- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
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Overview
This analysis includes a comprehensive Belarus energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- Belarus aims to reach a share of 9% of renewables in the energy mix by 2035.
- In its updated NDC, the country committed to reduce its GHG emissions by 35% below the 1990 level in 2030.
- The energy sector is dominated by 3 monopolies: Belenergo for power, Belorusneft for oil, and Gazprom for natural gas.
- Belarus imports most of its oil and gas from Russia at discounted prices.
- A second nuclear unit was commissioned in November 2023.
- Gas dominates the power mix (80%), followed by nuclear (12%).
- Oil prices have increased by 10%/year since 2020.They are much lower than in Russia.
- Electricity prices fluctuate with the gas price.
- Gas supplies 56% of the energy mix, followed by oil (29%).
- Households and services absorb 44% of the final energy consumption.
- Power projects suffer from delays.
Institutions & Energy Policy
The Ministry of Energy (Minenergo) is in charge of the country's energy policy, including the security of supply.
The Ministry of Natural Resources and Environmental Protection is in charge of regulating the power generation from renewable energy sources.
Energy Companies
Oil:
The oil sector is supervised by Belneftekhim, a state-owned holding company subordinated to the Council of Ministers. It owns several companies, including Belorusneft, Naftan, and Mozy Oil Refinery.
Energy Supply
Resources:
Gas and oil resources are limited, with proven reserves estimated at around 27 Mt for oil and 0.5 bcm for gas (end-2022). Hydroelectric resources are around 1 TWh. However, Belarus contains large reserves of oil shales, estimated at 8.8 Gt, and its forests, which cover almost 40% of the territory, could play a key role in the country's efforts to increase its domestic energy resources.
Energy Prices
Oil:
Oil prices are set by the government but tend to follow international oil prices. Diesel and gasoline prices in dollars have increased rapidly since 2020, reaching US$0.99/l for diesel (+12%/year) and US$0.94/l for gasoline in 2023 (8%/year).
Oil prices were 30% higher for diesel and 40% higher for gasoline compared to Russia in 2022.
Graph: GASOLINE & DIESEL PRICES (US$/l)
Energy Consumption
Per capita energy consumption stands at 2.8 toe (2022), including around 3 700 kWh of electricity; such consumption levels are around half those for Russia.
After a peak at 30 Mtoe in 2012, total energy consumption had a declining trend until 2020. It rebounded by nearly 9% in 2021, before declining again in 2022 (-4%) to 26 Mtoe.