«Problems of economics and management of oil and gas complex»

Some specific features of the oil and gas industry development of the Eurasian Economic Union

UDC: 339.94
DOI: -

Authors:

¹ Patrice Lumumba Peoples' Friendship University of Russia, Moscow, Russia
² Moscow Pedagogical State University, Moscow, Russia

Keywords: oil and gas industry, Eurasian Economic Union, common market, international cooperation, economic sanctions

Annotation:

The subject of the research in the article is the system of economic relations that arise in the course of interaction between the EAEU member states within the framework of the international cooperation development in the oil and gas industry. The authors of the article aim at the development of recommendations for the phased international integration of oil and gas enterprises of the Eurasian Economic Union in the context of the global energy market transformation and the ongoing sanctions policy against the Russian Federation and the Republic Belarus. The methodological basis of the research consists of studying scientific articles of modern scientists and specialists devoted to the study of the features of integration processes, development of global energy markets and oil and gas industry. Methods of system and economic analysis, generalization, classification and comparative analysis were used for the study. The economic cooperation strategy in the oil and gas industry is proposed, taking into account the existing challenges, limitations and opportunities for the industry development in the context of sanctions policy, based on joint actions of supranational and national management institutions regulating the development of the oil and gas industry within the framework of the formation of the Eurasian Economic Union common market.

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