Overcoming Interregional Economic Disparities in Russia Through Implementation of Resource Projects

Abstract

This paper examines the state and analyzes the possible directions of development and functioning of the fuel and energy complex (FEC) of Russia and, in particular, Asian Russia (territories located to the East of the Urals) from the perspective of being integrated into the globally promoted “agenda” of energy transition. It is shown that the lag in solving such issues as forming the sector of scientific and production services in the East of Russia, as well as specialized machine building and deeper integrated processing of fuel and energy resources, significantly reduces the chances of achieving both the stability of socio-economic development and the solution to the problems of reducing carbon intensity in this territory. Solving the above-mentioned problems requires procedures and approaches to the institutional adjustment of the system of state regulation as well as managing the processes of development and use of the huge energy potential of the East of the country. A special role in this is assigned to forming a feedback of export-oriented supply of energy resources along with the implementation of projects aimed at changing the structure of the economy of Asian Russia. The authors believe that the currently observed growth of demand for domestic primary energy resources in the markets of China and the Asia–Pacific region as a whole should not be considered as a sustainable long-term trend. Improving the stability of fuel and energy complex of Asian Russia and its economy as a whole makes it necessary to consider and develop projects that rely on the connectivity and interaction of different sectors and regions.