The energy industry in Russia: assessment of the state, problems and prospects

Abstract

Abstract An assessment of the state and the problems of the development of the energy sector of Russian industry, which plays an important role in ensuring both the country’s energy and national security, are presented in the article. In the course of the analysis, a number of positive aspects were identified that characterize the increase in the efficiency of the research industry, namely, there has been an increase in labor productivity, overall savings in energy resources used for own needs have been noted, and environmental profiles of enterprises have improved. However, along with this, a number of negative trends are revealed, the most significant of which authors consider to be: the growth of unprofitable enterprises, the decrease in solvency and current financial stability due to the significant exposure of the industry to opportunistic and seasonal fluctuations, as well as the persistent negative impact of the industry on the environment. An important feature of the energy sector of Russian economy is the lack of positive dynamics in increasing renewable energy sources in the total volume of its production, which does not allow talking about a significant increase in environmental security in this industry. The authors associate the perspective directions of the Russian energy sector development with the need to increase the share of renewable energy sources, and the development of the industry using traditional sources should be based on the interconnection of three important components: economic feasibility, resource endowment, and environmental acceptance.