Strategic priorities of industrial support of energy projects in the Arctic

A. A. Spiridonov (), M. L. Fadeeva () and T. О. Tolstykh ()

Russian Journal of Industrial Economics, 2024, vol. 17, issue 1

Abstract: The article deals with economic issues of support of energy projects in the Arctic based on the use of the industrial potential of the region on the example of the Murmansk region, a subject of the Russian Federation. The article contains justification of the administrative and economic mechanism of formation of the oil and gas cluster with small and medium-sized businesses as its core. The mechanism includes consistent implementation of several stages: analysis of industrial opportunities of regional suppliers, implementation of development programs, establishment of industry clusters, participation in tender procedures. The suggested mechanism will ensure increasing the share of participation of regional companies in realization of industrial projects and localization of production facilities.Special attention is paid to the challenges faced by the supplier companies of oil and gas industry and the ways to overcome them effectively. The article studies the mechanism of horizontal integration of regional supplier companies in order to perform a consolidated representation of their industrial potential when participating in tender procedures. The authors give considerable attention to the role of the state in realization of energy projects in the Arctic and to interaction with regional business communities when establishing oil and gas clusters on the territory of new mining regions.Involvement of small and medium-sized businesses in realization of major energy projects is an essential condition for the long-term development of economy. Many regional industrial enterprises possess unique competencies that may be in special demand in the conditions of the sanctions pressure and withdrawal of foreign companies from the Russian market. The authors especially focus on the formation of institutional conditions aimed at creating favourable environment for mutual integration of the interests of state, operators of energy projects and regional suppliers.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2024:id:1261

DOI: 10.17073/2072-1633-2024-1-1261

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