Strategic Transformation of Oil and Gas Enterprises in the Russian Arctic

The Arctic has become an arena for international competition, with both Arctic and non-Arctic states striving to expand their presence by intensifying investments in fossil fuel infrastructure. This environment necessitates effective development strategies for oil and gas enterprises operating within the Russian Arctic. The author applied Professor V.L. Kvint’s strategizing methodology to these enterprises in order to develop a new strategy based on the strategic importance of the region and Russia’s key national interests. The research also employed situational analysis, specific project management tools, and investment project evaluation methods. Following Professor Kvint’s approach, the proposed strategy was structured into distinct stages. The study focused on major Russian oil and gas companies active in the Russian Arctic, including Rosneft, Lukoil, Gazprom Neft, and Novatek, as well as other entities involved through partnerships and consortia. The author believes that industrial strategies must align with the strategic significance of the Russian Arctic and broader national interests. While the Russian Arctic’s role in the national security demands increased hydrocarbon production in line with global trends, industry leaders often prioritize short-term profitability and deadlines over long-term national strategic interests. This misalignment hinders the establishment of sustainable strategic priorities. Applying this methodology can enhance current industrial strategies for oil and gas enterprises in the Russian Arctic.