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New Configuration of Political Power and the Oil and Gas Industry Management System

New Configuration of Political Power and the Oil and Gas Industry Management System

In spite that Vladimir Putin actually remains the nation’s leader, the system of government decision-making undergoes serious changes. This also affects the oil and gas industry. The importance of the government soars, there appear deputy prime ministers with new functions vested in them, and ministries gain greater influence. This is a different governance concept, for the government and its individual departments have in recent years been rendered less important in their role, with the centre of decision-making shifted to state-run corporations.

What will the new oil and gas sector management system be like? How will structural and staff changes in relevant government departments affect operations in the industry? The answers to these and other questions are given in the new Report of the National Energy Security Fund.

It dwells on the following subjects:

  • Division of powers in energy sector management between Mr Putin and Mr Medvedev

    • Mr Putin retains his status as the «number one oil and gas figure»
  • Putin’s new checks and balances in energy

    • Mixing of elite clans in the boards of directors of state-run companies and executive agencies
  • New system of state control over oil and gas

    • Overall configuration of the allocation of powers relating to control over the industry between the new government departments
    • New deputy prime ministers, ministers and their «favourite» companies in the sector
    • New lobbying chains and opportunities
    • New government commissions on oil and gas sector development and their true weight and powers
  • Relations between the government and oil and gas companies under Mr Putin as Prime Minister

    • The government as a system of control over state companies
    • Key problems of sector development and mechanisms to solve them
    • Fight between Gazprom and Rosneft and administrative support for their interests
  • Medium-term forecast of developments

The contents of the report:

Chapter 1. Putin as the Principal Supervisor of the Energy Sector 3
Chapter 2. Putin’s «Puff Pastry» of Bureaucrats: Byzantine Tangle of Elites. New Composition of the Government and Multilayer Control of Energy 10
Chapter 3. Main Lines of Conflicts over the Development of the Industry in the New Cabinet 23
3.1. Oil Export Problem: ESPO vs. BPS-223
3.2. «Security Officers» versus «Lawyers»: Share-out of Assets between Rosneft and Gazprom 26
3.3. «Lawyers» versus «Exporters»: Fight for Gazprom Divestment 31
Conclusion. Putin’s two main energy objectives 33
Date of issueJune 9, 2008

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

Outlook for Russian LNG Industry
Russian Energy and West One Year after Ukraine Conflict Began: Are There Connections Still?
Green Agenda in Russia during Bitter Conflict with West
After February 2022 the agenda was radically rewritten. Western companies began leaving Russia en masse, economic relations with the West were drastically reduced, and the Russian economy began to be pushed violently from the global economic space, hemmed in by sweeping sanctions. All that was, to put it mildly, not the best background for talking about ESG. Especially because tasks of survival and stability under unprecedented pressure became the priority in the economy. In late 2022, however, attempts to reanimate the ESG agenda already became obvious. The message is put across insistently that it is important to Russia regardless of the foreign policy situation. While earlier the “green pivot” was seen as an opportunity to attract Western investors and their technological solutions to Russia, now Keynesian reliance on domestic manufacture is discussed.
Oil and Gas Sector Regulation in 2022 and Prospects for 2023
Gazprom at the Forefront of Economic and Political Battles with Europe
Gazprom is being actively thrown out of the market. Its annual supplies to Europe have shrunk from the previous 150 billion to 65 billion cubic metres of gas. European officials assure that they have already learnt how to live without Russian gas, so they will bring its purchases down to but nominal values in 2023. Their main hope is liquefied natural gas. Today the EU must make a crucial decision: whether it has passed the point of no return in gas business with Russia and whether it is certain that its economy will endure without supplies of Russian pipeline gas. Or, on the contrary, Europe will realise after all that the gas balance will not be achieved and the payment for so headlong a rush for LNG will be disproportionate. Assessment of the potential volume of LNG that will appear on the market before the end of the current decade will be the most important factor for making the decision.

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07

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