The fuel and energy complex of the Far East: transformation of the institutional environment

Abstract

The fuel and energy complex (FEC) is a complex inter-industry complex of the Far East, whose activities continue to focus on increasing the volume of production and export of energy resources. The introduction of sanctions against the oil and gas complex led to a violation of the logistics of export deliveries. The process of diversification of energy supplies to the rapidly developing market of the countries of the Asia-Pacific region and the domestic market that has begun requires the implementation of infrastructure projects of the fuel and energy complex for the construction of pipeline transport facilities. Termination of supplies of the European technologies and equipment, existing contracts for the maintenance of supplied equipment, as well as a ban on investments, exacerbated the problem of technical equipment and modernization of organizations of the complex. The state of the fuel and energy complex of the Far East is characterized by a low level of development and competitiveness of its processing sector. Under the current conditions, the formation of a modern institutional environment is becoming an important condition for improving the efficiency of the fuel and energy complex and ensuring effective domestic demand for the energy resources of the Far East. Many problems of the development of the fuel and energy complex can be solved only through a competent combination of market mechanisms for self-development and effective mechanisms of state regulation. The purpose of this study is to study the transformation of the institutional environment of the fuel and energy complex and analyze the influence of institutions on the development of the complex in the Far-Eastern federal district (FEFD). The article gives description of the political, legal and economic institutions of regulation and development institutions that form the institutional environment for the functioning of the fuel and energy complex. The main forms and methods of state support for organizations of the fuel and energy complex are systematized. The main functions of the fuel and energy complex are considered. The study was performed using the methods of systemic and comparative analysis.