This study investigates some determinants of carbon intensity in 28 countries in the European Union (EU), including non-fossil energy, economic growth, energy consumption, and oil price. A panel quantile regression method, which considers both individual heterogeneity and distributional heterogeneity, is applied in this paper. The empirical results imply that the influences of these determinants on carbon intensity are heterogeneous and asymmetric across different quantiles. Specifically, non-fossil energy can significantly decrease carbon intensity, but shows a U-shaped relationship. Economic growth has a negative impact on carbon intensity, especially for medium-emission and high-emission countries. The effects of heating degree days on carbon intensity are positive, although the coefficients are not significant at low quantiles, they become significant from medium quantiles. Besides, we find an inverse U-shaped relationship between crude oil price and carbon intensity. Finally, several relevant policy recommendations are proposed based on the empirical results.

В настоящее время практически одновременно инициированы и запущены такие проекты, как БРИКС, Трансатлантическое торговое и инвестиционное партнерство, Транстихоокеанское партнерство, Азиатско-Тихоокеанское экономическое сотрудничество (АТЭС), Форум «Азия – Европа», Евразийский экономический союз (ЕАЭС). Это свидетельствует о том, что трансрегиональный уровень международных отношений приобретает особую значимость. Цель исследования состоит в научном обосновании приоритетов российско-китайского сотрудничества в газовой сфере, а также в выявлении существующих проблем и перспектив в развитии отношений между Китаем и РФ на рынке энергоресурсов в контексте теории трансрегионального взаимодействия. Предметом изучения является сфера поставок российского газа на региональный рынок КНР. Сегодня Китай заинтересован в большей диверсификации поставок газа. Экологические проблемы и обеспечение промышленности дешевой энергией являются причиной перехода КНР от угля к природному газу, а также к сжиженному природному газу и другим возобновляемым источникам энергии. Авторы статьи задаются вопросом: отдаст ли Китай предпочтение российским поставщикам природного газа? В статье представлен обзор газовой промышленности России и Китая, основные проекты сотрудничества между КНР и РФ в газовой сфере, структура экспорта и импорта газа, и тенденции экспорта российских углеводородов в Китай. На основе трансцендентальной теории Кузнецова предлагается модель межрегионального газового сотрудничества между Китаем и Россией, которая показывает, что трансрегиональное взаимодействие подвержено риску и неопределенности, но в то же время есть положительные возможности для взаимовыгодного сотрудничества как РФ, так и КНР. трансрегиональная теория, энергетическая политика, китайско-российское сотрудничество, производство /потребление природного газа, экспорт /импорт природного газа

International oil and gas projects feature high capital-intensity, high risks and contract diversity. Therefore, in order to help decision makers make more reasonable decisions under uncertainty, it is necessary to measure the risks of international oil and gas projects. For this purpose, this paper constructs a probabilistic model that is based on the traditional economic evaluation model, and introduces value at risk (VaR) which is a valuable risk measure tool in finance, and applies VaR to measure the risks of royalty contracts, production share contracts and service contracts of an international oil and gas project. Besides, this paper compares the influences of different risk factors on the net present value (\(NPV\)) of the project by using the simulation results. The results indicate: (1) risks have great impacts on the project’s \(NPV\), therefore, if risks are overlooked, the decision may be wrong. (2) A simulation method is applied to simulate the stochastic distribution of risk factors in the probabilistic model. Therefore, the probability is related to the project’s \(NPV\), overcoming the inherent limitation of the traditional economic evaluation method. (3) VaR is a straightforward risk measure tool, and can be applied to evaluate the risks of international oil and gas projects. It is helpful for decision making.

The research is based on the materials of the largest oil and gas companies in Russia and China, whose total production in each country exceeds 86%. The authors used indicators that are available to the world statistics and relate to the system of sustainable financial growth in Russia and China from 1996 to 2016. The aim of the article is to study the impact of investments in personnel social welfare, energy efficiency and environmental protection on sustainable financial growth of the oil and gas industry. The research objectives are to develop a theory of sustainable financial growth in the oil and gas industry, as well as its assessment and forecasting tools. The authors use the methods of statistical analysis of financial, social, energy and environmental coefficients, and mathematical modeling. They propose a new methodology for calculating the index of the financial sustainable growth system. The authors substantiate the composition and the structure of the sustainable financial growth system of oil and gas companies in Russia and China, as well as the composition of the economic processes that influence or predetermine this growth. The relationship between the subsystem indicators were analyzed in the article. The article substantiates the index of the sustainable financial growth system of oil and gas companies in Russia and China. The authors developed a model for calculating the index of the sustainable financial growth system in the AnyLogic program. The results of the study showed that the factors of the “energy efficiency” and “social subsystem” subsystems affect financial sustainable growth in Russian oil and gas companies, but the financial subsystem is least dependent on the “environment” subsystem. The situation in Chinese oil and gas companies is the opposite: the financial sustainable growth is mostly affected by the factors of the “environment” and “energy efficiency” subsystems. The financial subsystem is least connected with the subsystem of personnel social welfare. Nevertheless, the study proves that in the oil and gas companies in both countries, nonfinancial indicators (each country has its own block) have a positive effect on the financial sustainable growth. According to the authors, the main conclusion is to consider social, energy and environmental indicators that have the strongest influence on the financial sustainable growth in the company’s financial statements. The developed AnyLogic model can be used to predict the index of the sustainable growth system and its management. The results of the study are recommended for the oil and gas corporations of China.