The impact of oil prices on the development of gasification in Russia

UDK: 338.532.43 : 622.276
DOI: 10.24887/0028-2448-2019-5-38-39
Key words: gas supply, oil prices, investments, correlation, program
Authors: N.V. Varlamov (Gazprom Promgaz JSC, RF, Moscow), V.D. Zubareva (Gubkin University, RF, Moscow)

The successfully developing process of gasification of the regions of the Russian Federation is one of the engines of the country's general socio-economic growth, in which both direct consumers of gas and PJSC Gazprom and relevant government bodies are interested. At present, gasification is financed by the investment programs of Gazprom PJSC, the funds of the regional administration, the investment programs of gas distribution organizations and independent suppliers, as well as federal targeted programs. Since most of the federal budget revenues come from the oil and gas sector, its filling is directly related to oil prices, as well as to gas prices, calculated on the basis of linking to a basket of oil products. This leads to the fact that fluctuations in oil prices are one of the main factors influencing the formation of the federal budget of the Russian Federation, the Investment programs of Gazprom PJSC, federal and state programs. The article submitted for consideration on the basis of retrospective statistical data on oil prices, revenues from the export of crude oil and gas, the volume of Gazprom PJSC investments in the development of gas supply and gasification of the Russian regions over the past 14 years, analyzes the impact of oil prices on the development of gasification in Russian Federation, and confirmed the dependence of these investments on fluctuations in oil prices based on the calculation of correlation coefficients.

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