Development of oil and gas regions of the North in the fall of oil prices

The article shows that the main problem in the development of oil and gas regions of the Russian North is a single-industry nature of the economy based on the exploitation of natural resources. Most clearly this problem manifests itself in a period of declining world oil prices, which negatively affects the formation of regional budgets. Based on the analysis of domestic and international experience suggests measures to overcome limited resource orientation of the regional economy.

Keywords: oil and gas producing regions, North, resource-based economy, market conditions