OPPORTUNITIES FOR INTEGRATING THE RUSSIAN OIL AND GAS COMPLEX INTO GLOBAL VALUE CHAINS (GVC)

The nature of the GVC concept is revealed as a set of producers creating individual parts of a composite good within a distributed production system. Global value chains currently form the basis of the world economy, with GVC products accounting for at least 70–75% of its turnover. This study identifies the position of the Russian oil and gas sector within the GVC framework. The author analyses the forward and backward linkages of the Russian oil and gas complex and concludes that it remains weakly integrated into global production chains. Opportunities for enhancing the integration of the Russian oil and gas industry into distributed production structures are discussed. Integration tools include joint production based on energy discounts and strategic alliances as mechanisms to promote national interests in the modern international environment.