Development Prospects of the Far East Fuel and Energy Complex in the Context of Global Energy Market Transformation

Abstract

The paper considers two groups of factors determining the development of the fuel and energy complex (FEC) of the Russian Far East in the last two decades: internal and external. In the first group we can distinguish the target settings within the framework of the development strategy of the national fuel and energy complex (the “eastern vector” of the energy policy) and the country as a whole (the Far East as a priority macro-region), as well as the external agenda (Turn to the East). The whole set of internal factors contributed to the growth of competitiveness of the Far Eastern fuel and energy complex in the national economy. The second group of factors characterizes the conjuncture of the world energy markets, the conditions of which vary greatly depending on the geographical location. Based on the comparison of two large-scale segments of the world market: the EU countries and the APR countries, the author shows the need to increase the supply of Russian resources to the APR markets. It is determined that external and internal factors contribute to further accelerated development of the Far Eastern fuel and energy complex, strengthen its advantages over other regional complexes.