Yuri Shafranik was one of the forefathers of the new Russia's oil and gas industry. With his active participation, Russia has joined such large-scale international projects as the Caspian Pipeline Consortium, Sakhalin-1, and Sakhalin-2.
As Yuri Shafranik has repeatedly mentioned in his speeches: "All these projects have been extremely important in both the regional and international terms. For example, the Caspian Pipeline Consortium was the first consortium, the first private pipe to run from Kazakhstan to Russia and on to the Black Sea." He also initiated programs aimed at the development and restructuring of Russia's oil, coal, and electric energy industries, which helped to save and grow the potential of the Russian fuel and energy complex.
Projects in the Russian oil industry have become an example of successfully attracting foreign capital. For instance, Sakhalin-2 was one of the first experiences of bringing foreign investors, such as the world-famous British-Dutch Shell and Japanese Mitsui and Mitsubishi, to the Russian market. Essentially, Sakhalin-2 was the first Russian project to have secured major project financing. In 2018, the project’s operator, Sakhalin Energy, produced 3.98 million tons (or 28.29 million barrels) of oil, 1.58 million tons (or 13.93 million barrels) of condensate, and 11.41 million tons of LNG.