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Analysis of Sustainable Development Factors in Fuel and Energy Industry and Conditions for Achievement Energy Efficiency and Energy Security

Author

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  • Maxim Vasilyevich Chernyaev

    (Federal State Independent Educational Institution of Higher Education Peoples Friendship University of Russia , RUDN University, Moscow 117198, Russia,)

  • Irina Aleksandrovna Rodionova

    (Federal State Independent Educational Institution of Higher Education Peoples Friendship University of Russia, RUDN University, Moscow 117198, Russia.)

Abstract

Focus on sustainable development is a necessary condition for effective operation of any economic entity (state, region, production industry, or an organization). But in today s economic conditions a lot of Russian companies fail to take into account current economic and political challenges in their development strategies quickly enough. This is primarily caused by failure to respond quickly to rapidly changing market conditions, and to modify their social and economic functioning model respectively. In such circumstances the necessity to ensure company s sustainable development efficient strategic management based on a system-oriented analysis of internal and external factors increases. Gas consumption share constitutes over 52% of the total primary energy resources consumption, and the draft Russian Energy Strategy supposes no significant changes in energy consumption mix up to 2035. This indicates the need in an extremely balanced approach to introduction of any changes into functioning conditions of the gas industry. Russia is the 3rd world s energy consumer, but its consumption rate per a unit of its gross domestic product (GDP) is higher than the one of any other country from Top-10 energy consumers. In addition to objective prerequisites (severe climatic conditions, large distances and, respectively, high energy resources transportation costs), high specific consumption of natural gas in national economy results from use of out-of-date energy wasteful technology. Russian economy is characterized by persistent energy resources wasting trend, resulting in unreasonable expenses of a community for energy self-supply, and, in addition to maintaining of energy resource oriented scenario of the country development, increases an energy resources availability lack risk. Russian oil and gas industry (OGI) operates in conditions of exhausted industrial potential; it faces significant problems, preventing its development and threatening energy security of the country (Chernyaev, 2014). Such circumstances result in the need for including active measures in the field of sustainable development into oil gas companies strategies, whilst increasing significance of preparation of the companies non-financial reporting. The authors herein tried to analyze current system of sustainable development factors and to give recommendations on formation of a system of sustainable development factors within fuel and energy entities.

Suggested Citation

  • Maxim Vasilyevich Chernyaev & Irina Aleksandrovna Rodionova, 2017. "Analysis of Sustainable Development Factors in Fuel and Energy Industry and Conditions for Achievement Energy Efficiency and Energy Security," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 16-27.
  • Handle: RePEc:eco:journ2:2017-05-3
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    References listed on IDEAS

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    1. Irina Aleksandrovna Rodionova & Maksim Vasilyevich Chernyaev & Anna Vadimovna Korenevskaya, 2017. "Energy Safety and Innovative Development of the BRICS States," International Journal of Energy Economics and Policy, Econjournals, vol. 7(3), pages 216-224.
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    Cited by:

    1. Olga Vladimirovna Shuvalova & Maxim Vasilyevich Chernyaev & Irina Aleksandrovna Rodionova & Anna Vadimovna Korenevskaya, 2018. "Peculiarities of the Russian and German Energy Policies in the Field of Alternative Energy Development," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 199-206.
    2. Elena Aleksandrovna Egorycheva & Nataliya Valerievna Dyuzheva & Andrey Vladimirovich Girinskiy & Ekaterina Petrovna Makarova Korobeinikova, 2020. "China-Pakistan Economic Corridor (CPEC) as a Flagship of Chinese Belt and Road Initiative," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 353-363.
    3. Dong, Xueqin & Dong, Dongdong & Yu, Qing, 2024. "Impact of oil, gold, and energy prices on resources footprint: Evaluating the role of digital governance and financial development," Resources Policy, Elsevier, vol. 92(C).

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    More about this item

    Keywords

    Russian oil and gas industry (OGI); factors and indices of sustainable development; energy efficiency and energy security; energy development strategy.;
    All these keywords.

    JEL classification:

    • L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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