ARCTIC ENERGY PROJECTS AS A TOOL FOR SUSTAINABLE DEVELOPMENT OF RUSSIA'S INDUSTRY

Author(s): Izmaylov M.K.

Rubric: Economics of sustainable development

DOI: 10.21777/2587-554X-2024-3-55-61

Release: 2024-3 (50)

Pages: 55-61

Keywords: energy project, Arctic, sustainable development, industry, gas industry, oil industry, production

Annotation: For a long time, the Arctic region of the Russian Federation has been identified as one of the top priority areas for development, through the implementation of energy projects. These projects are an essential tool for the long-term growth of the nation's economy and industry. The tasks of sustainable industrial development through Arctic energy projects are certainly reflected in the country's strategic planning documents at the highest level. The article argues that the main tool for ensuring the sustainable development of industry in the Russian Federa- tion lies in the development and implementation of energy projects in the Arctic region. The article describes the factors influencing the need and importance of the implementation of energy projects in the Arctic territory, and also gives a description of existing energy projects and those that are planned to be introduced. The facts about the strategic importance of projects for the sustainable development of the industry of the Russian Federation as a whole are presented. Conclusions are made that there is a need for further development of the industry in the Russian Federation, specifically in terms of organizing the production of equipment for energy projects in the Arctic. The goal is to focus on the sustainable development of state-owned industrial enterprises, allowing them to reduce or eliminate their dependence on equipment supplied by foreign companies.

Bibliography: Izmaylov M.K. ARCTIC ENERGY PROJECTS AS A TOOL FOR SUSTAINABLE DEVELOPMENT OF RUSSIA'S INDUSTRY // Economics and Management. – 2024. – № 3 (50). – С. 55-61. doi: 10.21777/2587-554X-2024-3-55-61