Abstract:

Due to technological peculiarities, the development of oil and gas sector adversely affects the environment, significant contribution being made by associated gas flaring. To solve this problem, the Government has set a maximum allowable rate of associated gas utilization and introduced the payment for its above-limit flaring. The effect of this payment on the income of low-level employees working at the state-funded organization is investigated. The objects under research are oil-producing regions of the RF, where the share of oil and gas sector in the regional industry and GRP is approximately the same and hydrocarbon resources possess similar characteristics. The hypothesis of the research relies on the idea that diversification of economy of oil-producing regions indicates the level of negative impact caused by the reduction in the funds entering the budget. The findings have revealed that the payment for negative environmental impact has a dual effect on the sustainability of socio-economical development of the oil-producing regions as, on the one hand, it contributes to better environmental situation, but, on the other hand, reduces the revenue of the budgets of the entities of the RF. This decreases the investment potential of oil-dependent regions. Such effect is insignificant in the regions with diversified economy.