Features of Oil and Gas Industry Strategizing in the Arctic Zone of Russia

Abstract

Economic dynamism and geopolitical instability in the post-normal period highlight the importance of strengthening Russia’s national economy in the long term. This emphasizes the growing significance of the systematic and interconnected development and functioning of all its elements, primarily the fuel and energy complex, which acts as the integral core of the entire economic system. The fuel and energy complex plays a driving role in the development of resource-type northern regions, which increases interest in the Russian Arctic and the use of its vast and diverse oil and gas resources in the context of socio-economic development. However, realizing this potential requires the development of a comprehensive and holistic approach to its study through the prism of the theoretical provisions of the Russian scientific school of strategy development and implementation founded by Academician V. L. Kvint. Based on this, the purpose of this article is to identify the main features of strategizing the oil and gas industry in the Arctic zone of Russia. In the article, the authors conduct a strategic analysis of the regulatory and legal environment for strategizing the oil and gas industry in the Arctic zone of Russia and determine the practical aspects of the key strategic directions for the development of the oil and gas industry in the Arctic zone of Russia.