The role and place of Russia in the emerging new structure of hydrocarbon trade with the BRICS member countries
UDC: 330
DOI: -
Authors:
KATYUKHA PAVEL B.
1,
LOSHKAREV ANTON S.1,
KOVTUNOVICH NIKOLAY V.1
1 National University of Oil and Gas "Gubkin University", Moscow, Russia
Keywords: fragmentation of the global commodity market for hydrocarbons, price indicators (benchmarks), commodity exchanges, pricing agencies, "commoditization" and "financialization", "gray market" of oil, BRICS Unified Energy Exchange
Annotation:
The authors of the article discuss the formation of a fundamentally new hydrocarbon trading system within the framework of cooperation between the BRICS member countries as well as the prospects for restructuring the entire global oil trading, including the system of transportation and logistics routes. Particular attention is paid by the authors of the article to the role and place of Russia as one of the leading energy powers in the emerging BRICS trading structure. Taking into account the expansion of BRICS members, Russia should offer the BRICS member countries an oil trading model based on the interaction of spot and forward centers for global energy trade. Russia should initiate the creation of the Unified Energy Exchange as a source for the formation of price benchmarks.
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