The main directions of structural transformation of the oil and gas complex in the context of sanctions restrictions

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Authors

  • Chan Kae Zhongtai securities Co Ltd, Jinan, China
  • Elena I. Fedorova Don State Technical University, Russia
  • Elena A. Repina Southern Federal University, Rostov-on-Don, Russia https://orcid.org/0000-0002-1531-5203
  • Lyalya A. Edilsultanova Chechen State University named after A.A. Kadyrova, Grozny, Russia
  • Julia N. Marakulina Southern Federal University, Rostov-on-Don, Russia

Keywords:

Oil and gas complex, Sanctions restrictions, Import substitution

Abstract

The Russian oil and gas sector has been under sanctions since 2014, but in 2022 unprecedented restrictions were imposed on the industry, significantly changing the way companies operate and leading to a major transformation of their development strategies. At
the same time, many of the imposed sanctions are highly conditional, i.e. the vague wording in the documents allows them to be interpreted rather variably, which allowed many foreign companies to cooperate with Russian companies to the same extent until 2022. The radically changed conditions of oil and gas complex functioning have now made it urgent to consider the directions of structural transformation that the domestic oil and gas complex will have to face. The article considers three basic directions of transformation – the intensification of import substitution processes, reconstruction of logistic chains and transfer of international industry investment projects into the Russian jurisdiction.

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Published

2022-12-30

Issue

No. 003 (2022): Sustainable and Innovative Development in the Global Digital Age

Section

Articles