Innovative Development Of Enterprises In Russian Energy Sector To Increase Country’s Competitiveness

Abstract

In the current economic climate the world market is characterized by the entry of new players, fierce competition, the rapid high technology production development, frequent changes in government policies, the need adhere to environmental standards, etc. In order to stay competitive, enterprises of Russian industries should not only maintain their position in the global market, but also develop new ones using “comparative advantages”. This can be done through regular modernization of manufacture using high technology, development and implementation of a competitive product in demand on the world market. Russian energy companies are no exception. Therefore, a study of the innovativeness of energy companies is relevant. This study was conducted on the example of Gazprom. To this end, econometric modeling was carried out based on critical parameters that determine the corporation innovative development level. The calculation had been based on statistics of Gazprom for the period 2000-2018. Through the Eviews10 software package, regression analysis and econometric studies were conducted, linear and exponential models for forecasting the innovative development of the corporation for 2020 were built. The corresponding real indicators of the company were compared with those planned in Innovation Program. The study finds that the innovative evolution of Gazprom is consistent with its Innovative Development Program until 2025. In this connection, it can be concluded that current trends in the innovative development of the corporation indicate an increase in the competitiveness of Gazprom both in the domestic and foreign markets, despite the transition of world industry to level 4.0 and crises.