The Influence of Innovative Technologies on the Formation of a New Strategy for the Development of the International Oil and Gas Business

  • Ivan Kapitonov
  • Vladimir Voloshin Institute of Economics of the Russian Academy of Sciences
  • Tatiana Filosofova National Research University “Higher School of Economics” (HSE)
  • Dmitry Syrtsov National University of Science and Technology “MISiS”

Abstract

This article is devoted to the urgent problem of forming a new strategy for the development of the international oil and gas business in the context of the global impact of innovative technologies. The authors have identified a complex and multi-aspect nature of the interconnection between innovation and economic development. It is noted that modern models of economic growth and development of the international oil and gas business, which are aimed at an adequate reflection of reality, must necessarily take into account the phenomenon of innovation and their diffusion, and also consider the innovation factor as both endogenous and exogenous variables. However, at present, separate sub-sectors of the Russian fuel and energy complex operate in the regime of both moral and physical deterioration of their production and resource potential. It was revealed that in order for the oil and gas business to act as a single entity and provide a synergetic effect in achieving energy and economic national security, it had the necessary organizational basis for its sustainable development, it is advisable to form a mechanism for coordinating the interests of the state and business in the development of the oil and gas complex. The coordinator of interests should be a state that is able to develop and implement a single integrated program for the development of the oil and gas industry and to influence on its individual segments to harmonize and stabilize development in the long term. The degree of the state participation, the instruments of its indirect impact on the functioning and development of the oil and gas business are, first of all, called upon to ensure the proper level of energy security of the state, taking into account both endogenous and exogenous factors in the development of the oil and gas complex.

Published
2019-08-03
How to Cite
Kapitonov, I., Voloshin, V., Filosofova, T., & Syrtsov, D. (2019). The Influence of Innovative Technologies on the Formation of a New Strategy for the Development of the International Oil and Gas Business. Space and Culture, India, 7(2), 27-38. https://doi.org/10.20896/saci.v7i2.451