Efficient Mechanisms of Oil and Gas Industry Development in the Northern Regions
Efficient Mechanisms of Oil and Gas Industry Development in the Northern Regions

Summary/Abstract: The article is devoted to scientific study and analysis of mechanisms of development of the oil and gas industry in the region and assessment of their social and economic efficiency. The authors identified common trends in the global oil and gas industry, highlighted the characteristics of the development of oil and gas sector of foreign countries, determined the usefulness of the approaches used in international practice, including regulation of the industry by the state, tough stance in defending national interests, experience in optimization of taxation of oil and gas industry, investment of oil and gas revenues in the national economy. The novelty of the study consists in the formulated and substantiated for the first time general principles of elaboration of efficient financial and economic mechanisms of development of the oil and gas industry in the region: regulatory, tax and investment mechanisms ensuring the further long-term development of the oil and gas industry of the Republic of Sakha (Yakutia). Developed mechanisms are universal and can be applied in other oil and gas regions.

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