The Far East is a vast region. As well as having a harsh climate, many areas are located far from Russia’s major population centres. However, the region also boasts a wealth of natural resources, and enjoys proximity to the fast-growing market of the Asia-Pacific region. As a result, the region possesses enormous potential that is still to be fully realized. The last 18 months have seen a marked drop in passenger and cargo traffic, as well as disruption to global supply chains. Consequently, there has been a palpable shift in the global economic and geopolitical landscape. Periods of turbulence, however, invariably bring with them great opportunities and great change. For the Russian Far East, this period could also serve as a springboard for future success in the new reality. The country’s leadership has stated that the development of the Far East is to be a national priority for the entire 21st century. Accordingly, it has paid close attention to the region, together with the Arctic. This fact, together with a focus on advanced economic development and the creation of comfortable living conditions for the population, mean that the region’s potential for intensive growth is continuing to increase. The region enjoys proximity to the major sales markets of Japan, China, South Korea and other countries of the fast-growing Asia Pacific region. In addition, work to develop the Northern Sea Route continues apace. These factors are helping to support and scale up successful initiatives aimed at boosting the region’s export potential. At the same time, it is crucial to remember that the quality of work done to develop projects, as well as adherence to time frames, can have a bearing on their success for decades to come. In light of this, two ambitious landmark megaprojects in the region deserve special attention – the construction of a tidal power plant at Kamchatka’s Penzhin Bay (together with the development of green hydrogen at the plant), and the creation of a hydrogen cluster on Sakhalin. Is the region’s hydrogen agenda a utopian fantasy, or does it represent a genuine opportunity to attain a new status and level of development? What economic benefits will these megaprojects bring to the country? To what degree is Russia prepared to implement these megaprojects and unlock the region’s development potential in the period to 2030? Who are the main consumers of new forms of energy? And what impact will they have on the geopolitical situation in the Asia-Pacific region?