Impact of sanctions on the development of the gas industry in Russia

Abstract

The relevance of the study is conditioned by the following facts. The gas industry is an important structural component of the Russian economy. It not only contributes significant funds to the federal budget, but also affects economic growth rate, production potential, and development of scientific and technological progress. In the situation when anti-Russian sanctions are imposed, it becomes necessary to preserve the revenues received, projects underway and switch to new markets, analyzing the totality of risks that companies may face. In this regard, it is particularly important to study impact of sanctions on the Russian gas industry development and prospects for it in the current realities. The subject of the article is main trends in the gas industry development under sanctions. The purpose of the research is to study the specifics of the sanctions impact on the Russian gas industry development. The methodology used was the analysis of Internet resources corresponding to the research topic, statistical data, its synthesis, and generalization. The main results of the research are studying trends, specifics and prospects for the gas industry development in the context of introducing anti-Russian sanctions and defining the sanctions risk as one of the most important ones. The results obtained can be applied in assessing future development trends of the Russian gas industry considering the current situation, as well as in educational process. The prospects for further research on this topic include studying specifics of various risks impact on the Russian gas industry development and forming recommendations for hedging and managing them.