Economic Analysis: Theory and Practice

The Russian fuel and energy complex at the threshold of the fourth industrial revolution

Vol. 17, Iss. 5, MAY 2018

Received: 13 March 2018

Received in revised form: 22 March 2018

Accepted: 10 April 2018

Available online: 29 May 2018


JEL Classification: L71, O3, O13, Q4

Pages: 836-855

Erznkyan B.A. Central Economics and Mathematics Institute, Russian Academy of Sciences, Moscow, Russian Federation

ORCID id: not available

Arutyunyan S.M. Moscow, Russian Federation

ORCID id: not available

Importance The article reviews the development prospects for the Russian fuel and energy complex, main trends in the global energy, and the key factors influenced the course of events, makes a comparative analysis of the latest long-term forecasts of the evolution of global energy consumption, considering the introduction of cutting-edge technologies.
Objectives The purpose of the study is to formulate priorities for the Russian fuel and energy sector based on the natural, climatic and economic peculiarities of the country.
Methods We employ methods of economic and statistical analysis, expert evaluation, as well as analytical methods for collecting and processing information.
Results A vital problem of the Russian energy sector is a low incentive for the renewable energy and alternative hydrocarbon fuel technologies development. In the long term, is fraught with technological backlog and imbalance in the energy system. Relatively low levels of industry diversification, efficiency and environmental compatibility of generation, transportation, storage and consumption of energy reduce the economic attractiveness and competitiveness of the entire energy system in the upcoming digital low-carbon economy.
Conclusions Efforts should be focused on the following areas: reducing the energy intensity of GDP and increasing the energy and economic efficiency of the energy sector; deepening the diversification of the country's fuel and energy balance; increasing the share of highly refined oil and petroleum products in the structure of exports; developing a network of LNG plants; intensive financing of R&D in the field of alternative energy with an emphasis on bioenergy, wind and fusion energy.

Keywords: fuel and energy complex, Industry 4.0, Fourth Industrial Revolution, energy, future


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