Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal”
At present, the use of the term “new normal” as a new reality, characterizes a situation of challenge that requires a new model of economic development which would take into consideration current threats and risks. The article analyzes the possibility of implementing a concept of sustainable develop...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
President of the Russian Federation, Russian Academy of National Economy and Public Administration, North-West Institute of Management
2019-06-01
|
| Series: | Евразийская интеграция: экономика, право, политика |
| Subjects: | |
| Online Access: | https://www.eijournal.ru/jour/article/view/169 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1849319122800738304 |
|---|---|
| author | Evgenia A. Kuklina |
| author_facet | Evgenia A. Kuklina |
| author_sort | Evgenia A. Kuklina |
| collection | DOAJ |
| description | At present, the use of the term “new normal” as a new reality, characterizes a situation of challenge that requires a new model of economic development which would take into consideration current threats and risks. The article analyzes the possibility of implementing a concept of sustainable development in the context of new challenges at the energy market. Such challenges are the formation of the model of a low-carbon economy, the oversupply of hydrocarbons, and changing conditions of competition at the gas market. A key factor in restructuring the global energy industry is the reduction of greenhouse gas emissions. Carbon-free sources of energy rejecting traditional production technologies are becoming increasingly popular. Accelerated innovative development of the oil and gas sector of economy is an adequate response and a measure of Russia’s sensible reaction to the current challenges at the energy market. Innovative development of enterprises in the oil and gas sector is associated with a transition from the profit maximization model to the added value maximization model which forms an innovative vector of development of the industry. The article revisits the conditions for effectively using the global competitive advantages of the Russian Federation in the energy sector, and suggests measures of state support for creating favourable conditions for the innovative development of enterprises in the oil and gas sector. |
| format | Article |
| id | doaj-art-c22ceee5c09b4259afdf0eb2821e4a10 |
| institution | Kabale University |
| issn | 2073-2929 |
| language | English |
| publishDate | 2019-06-01 |
| publisher | President of the Russian Federation, Russian Academy of National Economy and Public Administration, North-West Institute of Management |
| record_format | Article |
| series | Евразийская интеграция: экономика, право, политика |
| spelling | doaj-art-c22ceee5c09b4259afdf0eb2821e4a102025-08-20T03:50:38ZengPresident of the Russian Federation, Russian Academy of National Economy and Public Administration, North-West Institute of ManagementЕвразийская интеграция: экономика, право, политика2073-29292019-06-01032735168Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal”Evgenia A. Kuklina0Russian Presidential Academy of National Economy and Public Administration (North-West Institute of Management of RANEPA)At present, the use of the term “new normal” as a new reality, characterizes a situation of challenge that requires a new model of economic development which would take into consideration current threats and risks. The article analyzes the possibility of implementing a concept of sustainable development in the context of new challenges at the energy market. Such challenges are the formation of the model of a low-carbon economy, the oversupply of hydrocarbons, and changing conditions of competition at the gas market. A key factor in restructuring the global energy industry is the reduction of greenhouse gas emissions. Carbon-free sources of energy rejecting traditional production technologies are becoming increasingly popular. Accelerated innovative development of the oil and gas sector of economy is an adequate response and a measure of Russia’s sensible reaction to the current challenges at the energy market. Innovative development of enterprises in the oil and gas sector is associated with a transition from the profit maximization model to the added value maximization model which forms an innovative vector of development of the industry. The article revisits the conditions for effectively using the global competitive advantages of the Russian Federation in the energy sector, and suggests measures of state support for creating favourable conditions for the innovative development of enterprises in the oil and gas sector.https://www.eijournal.ru/jour/article/view/169new normalsustainable developmentinnovative developmentthe oil and gas sectorthe energy sectorchallengesthreatsgovernment support |
| spellingShingle | Evgenia A. Kuklina Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal” Евразийская интеграция: экономика, право, политика new normal sustainable development innovative development the oil and gas sector the energy sector challenges threats government support |
| title | Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal” |
| title_full | Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal” |
| title_fullStr | Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal” |
| title_full_unstemmed | Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal” |
| title_short | Sustainable Development and New Challenges of the Energy Market: Amendment on “New Normal” |
| title_sort | sustainable development and new challenges of the energy market amendment on new normal |
| topic | new normal sustainable development innovative development the oil and gas sector the energy sector challenges threats government support |
| url | https://www.eijournal.ru/jour/article/view/169 |
| work_keys_str_mv | AT evgeniaakuklina sustainabledevelopmentandnewchallengesoftheenergymarketamendmentonnewnormal |