Impact of the pandemic and the green economy on the development of the oil and gas sector

Abstract

The article examines the impact of the most significant factors in the global economic transformation - the pandemic and the «green» economy on the development of the oil and gas sector. The development trends of the global oil and gas sector in the pre-pandemic period were identified, the most significant changes in its development in the period 2019-2021 were identi-fied, which of these changes were most due to the impact of the Covid-19 pandemic, which were due to the influence of the «green» economy, changes that have arisen independently of these two factors are indicated. The forecasts for the development of the oil and gas sector in the con-text of the risks associated with the development of the «green» economy and the consequences of the Covid-19 pandemic in the short, medium and long term have been studied. Significant at-tention is paid to the issues related to the differentiation of long-term and short-term trends in the development of the oil and gas industry under the influence of these two system-forming fac-tors. The article also explored the strategic prospects for the development of the oil and gas in-dustry as an alternative to the «green» economy, revealed. What impact will the Covid-19 pan-demic presumably have in terms of confrontation between traditional oil and gas energy and green energy as a possible main energy of the future. The geographic features of the energy trans-formation are determined, the regions are identified, the development of the oil and gas sector of which is affected by the coronavirus pandemic and the «green» economy in different ways. Keywords: oil and gas sector; Covid-19 pandemic; green economy; global economy; sectoral economy; global markets.