Sustainable Development of Oil and Gas Resources: A System of Environmental, Socio-Economic, and Innovation Indicators

Abstract

Following the principles of sustainable development in the development of oil and gas fields in the Arctic will ensure that hydrocarbon production and transportation operations comply with stringent environmental regulations, the economies of the northern regions become integrated into the national economy of Russia, production systems in the oil and gas sector are upgraded in an innovative manner, and further development of this region is balanced from the environmental perspective. The purpose of the study is to develop and provide a rationale for a balanced system of environmental, socio-economic, and innovative indicators for assessing whether the development of the Arctic’s unique hydrocarbon reserves is sustainable. The theoretical framework of the study draws upon the foundations and key principles of the sustainable development concept and upon modern approaches and methods for assessing the sustainability of production systems. The study presents an analysis of conceptual approaches to defining sustainable development in reference to oil and gas resources, including those found in the Arctic, defines target priorities for the sustainable development of the Arctic’s resource potential, and identifies the relationship between the environmental, socio-economic, and innovative domains of sustainability in the context of Arctic resource development. The results of the study demonstrate how large-scale gas projects can influence regional development and provide for making informed conclusions about whether the development of the Arctic’s oil and gas reserves can be considered sustainable (in accordance with the basic principles of the sustainable development concept).

Directions for Sustainable Development of China’s Coal Industry in the Post-Epidemic Era

“…Implement demonstration projects for clean and efficient utilization of coal, and strengthen supervision and incentive policies for coal-consuming industries. [98].…”

Analyzing the Concept of Corporate Sustainability in the Context of Sustainable Business Development in the Mining Sector with Elements of Circular Economy

“…The SD theory has not yet solved problems associated with SD evaluation at various levels or with the definition of SD. Moreover, the relationships between different evaluation indicators have not been established, the choice of key SD drivers has not been substantiated, and management tools have not been sufficiently developed [11]. In practical terms, the requirements for sustainable reporting have not been harmonized, and the best practice of applying SD management tools, including resource and environmental policy, low-carbon economy, waste management, and best available technology (BAT) application, is yet to be developed [12].…”

Untitled

“…Electrical energy sources are one of the most important needs for human survival, especially for household needs, transportation, and industry. According to the World Energy Agency or better known as the International Energy Agency (IEA), world energy demand will increase until 2030 by 45% or an average of 1.6% per year including Indonesia [1][2] [3]. Of this percentage, 80% of the world's energy needs come from fossil fuels [4] [5].…”