Innovation Strategy of Raw-Materials Companies in Conditions of Uncertainty on European Market of Gas (illustrated by the company ‘Gasprom’)
https://doi.org/10.21686/2413-2829-2018-6-199-213
Abstract
Today's international and national companies develop in conditions of high uncertainty, which requires flexible strategies, fast decision-making and spread of adopted strategy to all levels and spheres of the company work. Thus it is necessary to develop a non-standard combination of strategic decisions and to use more energetically theoretical achievements in the field of theory of forecast in such conditions. Support of Russian raw-materials companies that have a serious export component depends greatly on successful foresting of the market situation. The article analyses the evolution of price strategy of the company 'Gasprom' after adoption of the Third Power Package by the EU in 2009 and proposes theoretical tools for devising the effective price strategy in the long-term period. The authors ground the necessity to formulate a new long-term price export policy of the company 'Gasprom' in conditions of uncertain future demand on European market. They describe in detail and put forward for practical use in strategic planning of the company the model of making efficient managerial decisions for different levels of uncertainty of gas market, which could strengthen 'Gasprom' standing on European market and cut finance losses in tough competitive struggle.
About the Authors
L. L. RazumnovaRussian Federation
Lyudmila L. Razumnova - Doctor of Economics, Professor of the Department for Sociology, Psychology and Social Management of Moscow Aviation Institute.
4 Volokolamskoe shosse, Moscow, 125993
E. G. Lisovskaya
Russian Federation
Ekaterina G. Lisovskaya - Doctor of Economics, Professor of the Department for Political Economics and History of Economic Thought of the PRUE.
36 Stremyanny Lane, Moscow, 117997
References
1. Gazoviy rynok Evropy: utrachennye illyuzii i robkie nadezhdy [Gas Market of Europe: Lost Illusions and Vague Hopes], edited by V. A. Kulagin, T. A. Mitrova. Moscow, The Higher School of Economics - INEI RAN, 2015. (In Russ.).
2. Krutikhin M. Dorogo i serdito. Pochemu «Severniy potok - 2» budet postroen [Expensive but Good. Why 'the North Stream - 2' will be Built]. (In Russ.). Available at: https://republic.ru/posts/90695 (accessed 03.05.2018).
3. Marn M. V., Regner E. V., Zavada K. K. Tsenovoe preimushchestvo [Price Advantage], translated from English. Moscow, Al'pina Biznes Buks, 2004. (In Russ.).
4. Migaleva T. E., Razumnova L. L., Pakin A. K. Konkurentsiya na evropeyskom rynke gaza [Competition on European Gas Market]. Upravlenie ekonomicheskimi sistemami [Managing Economic Systems], Academic E-Journal, 2016, No. 12 (94). (In Russ.). Available at: https://elibrary.ru/contents.asp?id=34416686
5. Pribyl' «Gazproma» vyrosla v 5,4 raza. Aktsii tut zhe podorozhali ['Gasprom' Profits Rose in 5.4 Times. The Shares Became More Expensive at Once]. (In Russ.). Available at: https://quote.rbc.ru/news/article/5b86c50f9a79479efb486ba8
6. Razumnova L. L. Klyuchevye faktory razvitiya mirovoy energetiki: rol' Parizhskogo soglasheniya po klimatu [Key Factors of Global Power Engineering Development: the Role of Paris Agreement on Climate]. Aviatsiya i kosmonavtika - 2017, tezisy [Aircraft and Cosmonautics - 2017, theses]. Moscow, The Moscow Aircraft Institute (National Research University), 2017, pp. 660-661. (In Russ.).
7. Svetlov N. M., Razumnova L. L., Pakin A. K. Issledovanie dolgosrochnykh tendentsiy variatsii tsen na rynke prirodnogo gaza [Investigating Long-Term Trends of Changing Prices on Natural Gas Market]. Audit i finansoviy analiz [Audit and Finance Analysis], 2017, No. 5-6, pp. 498-504. (In Russ.).
8. Smirnov S. «Gazpromu» vygodna tsenovaya voyna s SShA za Evropu - FT ['Gasprom' is Interested in the Price War with the US over Europe - FT]. Vedomosti [Bulletin], 2016, February 4. (In Russ.).
9. Tramp menyaet «Severniy potok - 2» na sanktsii protiv Irana [Tramp Exchanges 'The North Stream - 2' for Sanctions against Iran]. (In Russ.). Available at: http://www.pravda-tv.ru/2018/09/20/382518/tramp-menyaet-severnyj-potok-2-na-sanktsii-protiv-irana
10. Walker, the Junior O. Marketingovaya strategiya. Kurs MVA [Marketing Strategy. MBA Course]. Moscow, Vershina, 2006. (In Russ.).
11. Boussena S. Prix du petrole et strategies de l'OPEP. Revue de I'energie, 1994, No. 458, pp. 246-253.
12. Boussena S., Locatelli C. Price war and uncertainty: what are the strategic options for the European gas market's main suppliers? Cahier de recherche EDDEN, 2016, No. 1.
13. Cornot-Gandolphe S. Les exportations americaines de gaz naturel: de nouvelles regies du jeu sur l'echiquier europeen. Etudes de 1'Ifri, 2016, Juin.
14. Coyne K., Subramaniam S. Bringing Discipline to Strategy. The McKinsey Quarterly, 2000, No. 3, pp. 29-38.
15. Heather P., Petrovich B. European Traded Gas Hubs: an Updated Analysis on Liquidity, Maturity and Barriers to Market Integration. Available at: https://www.oxfordenergy.org/wpcms/wp-content/uploads/2017/05/European-traded-gas-hubs-an-updated-analysis-on-liquidity-maturity-and-barriers-to-market-integration-OIES-Energy-Insight.pdf (accessed 20.08.2017).
16. Henderson J. Gazprom - Is 2016 the Year for a Change of Pricing Strategy in Europe? Available at: https://www.oxfordenergy.org/wpcms/wp-content/uploads/2016/01/Gazprom-Is-2016-the-Year-for-a-Change-of-Pricing-Strategy-in-Europe.pdf
17. Henderson J., Mitrova T. The Political and Commercial Dynamics of Russia's Gas Export Dynamic. Available at: https://www.oxfordenergy.org/wpcms/wp-content/uploads/2015/09/NG-102.pdf
18. Lunden P., Fjaertoft D., Overland I., Prachakova A. Gazprom vs. other Russian gas producers: The evolution of the Russian gas sector. Energy Policy, 2013, No. 61, pp. 663-670.
19. Rogers H. The Impact of Lower Gas and Oil Prices on Global Gas and LNG Markets. Available at: https://www.oxfordenergy.org/wpcms/wp-content/uploads/2015/07/NG-99.pdf
20. Stern J. Russian Responses to Commercial Change in European Gas Markets. Henderson J., Pirani S. (eds.). The Russian Gas Matrix: How Markets are Driving Change. Oxford, Oxford University Press, 2014, pp. 50-81. Available at: https://link.springer.com/chapter/10.1007/978-3-319-55801-1_15
21. Stokes D., Spinks O. LNG Imports & European Gas Pricing Dynamics. Timera Energy, 2016, June 27. Available at: http://www.timera-energy.com/the-tipping-point-in-the-gasmarket/
22. Stokes D., Spinks O., Rogers H. The Tipping Point in the Gas Market. Available at: http://www.timera-energy.com/the-tipping-point-in-the-gas-market/
Review
For citations:
Razumnova L.L., Lisovskaya E.G. Innovation Strategy of Raw-Materials Companies in Conditions of Uncertainty on European Market of Gas (illustrated by the company ‘Gasprom’). Vestnik of the Plekhanov Russian University of Economics. 2018;(6):199-213. (In Russ.) https://doi.org/10.21686/2413-2829-2018-6-199-213