SPECIAL AWARDS

Research Summary

Distributed capitalism revolution (blockchain, internet of things, etc.) will play a much more meaningful role than the reduction of transactional costs and market transparency generation. The paper proposes a new model of hydrocarbon company structure, some aspects of which come into sharp focus concerning today’s oil majors. The value chain is becoming different from vertically integrated principle due to the new consumption sectors’ emergence and production portfolio diversification. In its turn, diversification strengthens the self-dependence of business entities. The construction of a system of independent systems is the main objective in the transition to the innovative economy of the VI technological order. These are network structures based on a nature-like principle that becomes the skeleton of a new economy which is called the “Internet of values” in Western literature. Transformation is necessary for a well-timed and efficient adaptation to a distributed consumption principle concerning either infrastructure or goodwill being built via global web. The networking model presupposes “intellectual” diversification which, unlike conventional investment in other industries, implies time varying interaction of all the segments both within the company and with external economic agents that “blurs” the boundaries of the organization, what completely decentralizes it across the entire chain. The paper gives a new nonlinear structure of economic agents’ interrelations. The main prerequisites, the essence and consequences of the global transformation of vertically integrated companies into the network structure are consecrated.

AWARD: Participation in the 2019 SKOLKOVO Energy Summer School, and Two-month Internship at the Energy Centre, Moscow School Of Management SKOLKOVO

The Award was provided by the Energy Centre, Moscow School Of Management SKOLKOVO

Research Summary

The research is devoted to the development of gas infrastructure in Russia. The project of the gas pipeline network in Siberia is proposed. On the first stage of the research the main tendencies and the directions of Northeast Asian gas markets development were described. On the second stage the requirements to gas transport infrastructure in Russia were formulated. The process of price bench- marks establishment on Northeast Asian gas markets is considered as the main factor that determines the requirements to gas infrastructure. On the third stage the financial model of the proposed project for the construction of gas pipeline network was developed. The outputs of the model are Balance Sheet, Income Statement and Cash Flow Statement Forecasts for the company, which will provide gas transportation services. On the fourth stage commercial, social and economic efficiency of the project was evaluated. The project is characterized by relatively low commercial efficiency. But its im- plementation will provide conditions for the development of exchange trading in Russia and for the establishment of gas price indicator in Siberia. So, the conditions of Siberian gas market will influence gas export prices. This should contribute to the improvement of the stability of financial results from gas export to Northeast Asian countries. Besides, the existence of Siberian market price benchmark will not allow gas importers to appropriate the resource rent from low-cost gas fields. In addition, the project generates positive social, economic and environmental effects.

AWARD: Participation in the 15th Conference of The Northeast Asian Gas and Pipeline Forum (NAGPF) and an opportunity to give a presentation about her research