Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in Russia
The authors study the development of the oil and gas industry and assess the financial efficiency of the use of renewable energy sources, which determine the relevance of the research topic. The purpose of this work is to study the effectiveness of the development of the Russian energy sector and it...
| Main Authors: | , |
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2021-10-01
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| Series: | Финансы: теория и практика |
| Subjects: | |
| Online Access: | https://financetp.fa.ru/jour/article/view/1323 |
| _version_ | 1797878720962232320 |
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| author | J. An A. Yu. Mikhaylov |
| author_facet | J. An A. Yu. Mikhaylov |
| author_sort | J. An |
| collection | DOAJ |
| description | The authors study the development of the oil and gas industry and assess the financial efficiency of the use of renewable energy sources, which determine the relevance of the research topic. The purpose of this work is to study the effectiveness of the development of the Russian energy sector and its contribution to the world economy. The main question to which this article should give an answer is that how the Russian power industry will develop in corresponding to the global trends in energy consumption. This paper uses a method for finding the parameters of the efficiency of renewable energy sources using exponential smoothing. The paper uses data from the analytical report of British Petroleum and the Bloomberg system for the period from January 2012 to December 2019. The result of the study shows an improvement in the accuracy of the predicted values, while previous models had higher standard error estimates. The novelty of the study is to achieve accurate results of the forecast of fossil-fuel consumption for 3 years ahead (the forecast accuracy is 80.5). The article concludes that while Russian oil and gas projects are very important for the Russian economy until now, renewable energy projects are more beneficial. In addition, Russia does not seem to support the global trend towards a renewable and sustainable economy. Although oil and gas prices remain acceptable, unforeseen changes in the behavior of real buyers can hinder the efficiency of the Russian economy and lead to a disruption of Russia’s economic growth if Russia does not decisively steer towards renewable energy from now on. The growth of the Russian power industry corresponds to the global trends in fossil energy consumption (while fossil prices, thus incomes keep worsening), and thus innovative solutions for enhancing renewable energies must be adopted. The article proves that many pipeline projects (South Stream, Turkish Stream, Nord Stream 2) move the Russian energy sector back to the past because they just contradict existing trends. |
| first_indexed | 2024-04-10T02:36:38Z |
| format | Article |
| id | doaj.art-2fec5972134f429d851509b7f31a83a7 |
| institution | Directory Open Access Journal |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| last_indexed | 2024-04-10T02:36:38Z |
| publishDate | 2021-10-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj.art-2fec5972134f429d851509b7f31a83a72023-03-13T07:49:30ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892021-10-01255799110.26794/2587-5671-2020-25-5-79-91871Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in RussiaJ. An0A. Yu. Mikhaylov1Колледж бизнеса, Университет иностранных языков ХанкукФинансовый университетThe authors study the development of the oil and gas industry and assess the financial efficiency of the use of renewable energy sources, which determine the relevance of the research topic. The purpose of this work is to study the effectiveness of the development of the Russian energy sector and its contribution to the world economy. The main question to which this article should give an answer is that how the Russian power industry will develop in corresponding to the global trends in energy consumption. This paper uses a method for finding the parameters of the efficiency of renewable energy sources using exponential smoothing. The paper uses data from the analytical report of British Petroleum and the Bloomberg system for the period from January 2012 to December 2019. The result of the study shows an improvement in the accuracy of the predicted values, while previous models had higher standard error estimates. The novelty of the study is to achieve accurate results of the forecast of fossil-fuel consumption for 3 years ahead (the forecast accuracy is 80.5). The article concludes that while Russian oil and gas projects are very important for the Russian economy until now, renewable energy projects are more beneficial. In addition, Russia does not seem to support the global trend towards a renewable and sustainable economy. Although oil and gas prices remain acceptable, unforeseen changes in the behavior of real buyers can hinder the efficiency of the Russian economy and lead to a disruption of Russia’s economic growth if Russia does not decisively steer towards renewable energy from now on. The growth of the Russian power industry corresponds to the global trends in fossil energy consumption (while fossil prices, thus incomes keep worsening), and thus innovative solutions for enhancing renewable energies must be adopted. The article proves that many pipeline projects (South Stream, Turkish Stream, Nord Stream 2) move the Russian energy sector back to the past because they just contradict existing trends.https://financetp.fa.ru/jour/article/view/1323энергопотреблениеэнергоресурсыприродный газгидроэнергетикаэлектрические сетидвижение биржевых котировок |
| spellingShingle | J. An A. Yu. Mikhaylov Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in Russia Финансы: теория и практика энергопотребление энергоресурсы природный газ гидроэнергетика электрические сети движение биржевых котировок |
| title | Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in Russia |
| title_full | Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in Russia |
| title_fullStr | Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in Russia |
| title_full_unstemmed | Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in Russia |
| title_short | Analysis of Energy Projects Financial Efficiency and Renewable Energy Generation in Russia |
| title_sort | analysis of energy projects financial efficiency and renewable energy generation in russia |
| topic | энергопотребление энергоресурсы природный газ гидроэнергетика электрические сети движение биржевых котировок |
| url | https://financetp.fa.ru/jour/article/view/1323 |
| work_keys_str_mv | AT jan analysisofenergyprojectsfinancialefficiencyandrenewableenergygenerationinrussia AT ayumikhaylov analysisofenergyprojectsfinancialefficiencyandrenewableenergygenerationinrussia |