Belarusian State University (Minsk, Republic of Belarus)

S. Yu. Solodovnikov, Head of Department, Doctor of Economic Sciences, Professor, solodovnikov@bntu.by
Yu. V. Meleshko, Candidate of Economic Sciences, Associate Professor

Due to the lack of rich deposits of coal, oil and gas, the problem of provision of fuel and energy resources for the Belarusian economy, the core of which is industry, was and remains particularly acute. Moreover, the successful implementation of the new industrialization strategy is possible only under the condition of continuous modernization of the fuel and energy sector of the Republic of Belarus, aimed at balancing the energy and production spheres. The purpose of this study is to develop the theoretical and methodological foundations for the economic and organizational modernization of the Belarusian fuel and energy sector in the context of limited domestic mineral resources and geopolitical instability. The methodological basis of the study was the methods of statistical, comparative and system analysis, descriptive and analytical approach, systematization and conceptualization of scientific ideas. The material was modern works of famous scientists and specialists, as well as official statistics. The analysis of the development of the Belarusian fuel and energy sector for the period of 2015–2024 identified the following key areas of the ongoing organizational, economic, structural and technological modernization: development of nuclear energy and renewable energy, increase in the share of local fuels in the national energy balance, technological modernization of production capacities and infrastructure. When determining further areas of industry modernization, it is necessary to take into account the diverse challenges that arise at the level of the country, the fuel and energy sector and individual companies under the influence of increasing competition in the global and regional markets of fuel and energy resources and geopolitical instability, namely: sustainable growth in electricity and heat consumption in the country, economic, environmental and social inconsistency of green energy, inflexibility of the current tariff policy, including increased price pressure on industrial plants due to the development of renewable energy, limited export potential in the context of geopolitical instability. Based on this, the promising directions and specific instruments were developed and proposed for further modernization of the fuel and energy sector in the Republic of Belarus.

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