Green Transformation of Oil and Gas Companies and Their Impact on the Sustainability of the Regional Economy
摘要
In recent years, the energy market has undergone significant changes. The most notable changes are observed in the increasing share of renewable energy and the decrease in the share of oil and gas. However, due to technological progress and the growth of the Chinese economy, the demand for energy sources continues to rise, creating a deficit and instability in the global market. International rating agencies provide conflicting forecasts regarding the structure of the global energy market, highlighting the need for research on the challenges of energy transition and sustainable development in regions that export hydrocarbon resources. The high volatility of energy prices on global exchanges results from the impact of various factors, including geopolitical, environmental, economic, and others. Creating conditions for sustainable development requires a comprehensive approach from key companies in the energy sector and the government, acting as a regulator of transformational processes. The research aims to identify global trends and challenges in the oil and gas industry, systematize the trends of its transformation, and seek solutions to ensure sustainable development of the regional economy. Currently, we observe a strengthening of oil and gas prices due to global economic processes. Additionally, geopolitical and environmental factors (e.g., the freezing of pipelines in Texas, the Suez Canal blockage, and the Nord Stream gas pipeline disruption) significantly impact the energy market. The oil and gas complex continues to undergo substantial changes and remains unstable. Furthermore, the market is expected to face deficit and instability challenges in the coming years, posing a significant challenge for all market participants. Developing strategies and investments to address these challenges and enhance stability in the industry is imperative. Challenges for the oil and gas complex in the Republic of Tatarstan include a reduction in export volumes and a shift away from Russian oil and gas by European consumers. The research aims to identify solutions for the transformation of the industry, considering emerging challenges and ensuring sustainable economic development in the regional economy.