A new stage in the development of the Russian gas industry

Abstract

The article presents the results of a study of the current situation in the Russian gas industry. The main problems are identified. Directions for the transformation of regulation to ensure its sustainable operation and development are proposed. The present moment can be characterized as the transition to a new stage for the gas industry. Gas exports to Europe are no longer a source of financing the unprofitable domestic supplies and an investment resource for the development of new production centers and the gas transmission system. Eastern projects still require large investments, and it will be possible to talk about their profitability in decades. Therefore, complex transformations are needed in the industry, including the development of competition and gradual deregulation of prices, bringing regulated prices to reasonable costs, the inclusion of a seasonal factor in prices, resolving the issue of the gas transportation tariff, a revision of tax policy for a predictable sharing of risks and profitability between the state and business under high volatility on external markets. It is also necessary to create conditions and coordinate the activities of ministries to stimulate the development of companies’ businesses in the direction of working with highly processed products, which will not only guarantee sales, but also ensure the creation of new jobs and additional GDP growth.