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96-715: The administrative okrug comprises the following twelve districts: Gazprom and the airline Aero Rent have their head offices in the administrative okrug's Cheryomushki District . Head office of RusHydro is in Obruchevsky District . The Moscow Finnish School , the Japanese School in Moscow , the Swedish School in Moscow , and the main campus of the Scuola Italiana Italo Calvino (Italian school) occupy

192-418: A joint-stock company . Gazprom began to distribute shares under the voucher method . (Each Russian citizen received vouchers to purchase shares of formerly state-owned companies). By 1994, 33% of Gazprom's shares had been bought by 747,000 members of the public, mostly in exchange for vouchers. Fifteen percent of the stock was allocated to Gazprom employees. The state retained 40% of the shares. That amount

288-413: A market economy , a free price system is intended to serve this purpose). This difficulty was notably written about by economists Ludwig von Mises and Friedrich Hayek , who referred to subtly distinct aspects of the problem as the economic calculation problem and local knowledge problem , respectively. These distinct aspects were also present in the economic thought of Michael Polanyi . Whereas

384-524: A 3.8% increase from the 2011 figure which represented 18.4% of the world's reserves. In 2015, the reserves of crude oil were 1.355 billion tons and the reserves of gas condensate were 933.3 billion tons. 59.8 percent of Gazprom's natural gas reserves (Categories A+B+C1) were located in the Urals Federal District (decreasing), 20.5 percent in the Arctic shelf (increasing), and 8.3 percent in

480-633: A 41.4 GW capacity. The UGSS is the largest gas transmission system in the world. In 2008, the transportation system carried 714.3 billion cubic metres (25.23 trillion cubic feet) of gas. Gazprom has claimed the UGSS has reached its capacity. Major transmission projects include the Nord Stream pipelines as well as pipelines inside Russia. In 2021 Russia had two large liquefied natural gas (LNG) production plants, Yamal LNG and Sakhalin-2 LNG both of which Gazprom has an interest in. In March 2021,

576-683: A New Socialism (1993), the computer scientist Paul Cockshott from the University of Glasgow and the economist Allin Cottrell from Wake Forest University claim to demonstrate how a democratically planned economy built on modern computer technology is possible and drives the thesis that it would be both economically more stable than the free-market economies and also morally desirable. The use of computers to coordinate production in an optimal fashion has been variously proposed for socialist economies . The Polish economist Oskar Lange (1904–1965) argued that

672-411: A competing marketplace to meet the needs of the most consumers most efficiently. This phenomenon is recognized as spontaneous order . Additionally, misallocation of resources would naturally ensue by redirecting capital away from individuals with direct knowledge and circumventing it into markets where a coercive monopoly influences behavior, ignoring market signals. According to Tibor Machan , "[w]ithout

768-532: A conversion of 26,4 m per million Btu it would correspond to a price of $ 285 per 1,000 cubic metres . At the same time, based on their respective contracts with Gazprom, German customers paid $ 250 per cubic metre (m ), Polish customers $ 290 per m , Ukraine customers $ 130 per m and Russian customers $ 49 per m . Since the start of the Russian invasion of Ukraine in February 2022 and as a result of falling export revenue,

864-510: A desired pattern. In international comparisons, state-socialist nations have compared favorably with capitalist nations in health indicators such as infant mortality and life expectancy. However, according to Michael Ellman , the reality of this, at least regarding infant mortality, varies depending on whether official Soviet or WHO definitions are used. The state can begin building massive heavy industries at once in an underdeveloped economy without waiting years for capital to accumulate through

960-555: A distributed network of disparate economic agents or even production units itself. Decentralized planning is usually held in contrast to centralized planning, in particular the Soviet-type economic planning of the Soviet Union 's command economy, where economic information is aggregated and used to formulate a plan for production, investment and resource allocation by a single central authority. Decentralized planning can take shape both in

1056-651: A domestic gas industry. In 1965, it centralized gas exploration , development, and distribution within the Ministry of Gas Industry. In the 1970s and 1980s, the Ministry of Gas Industry found large natural gas reserves in Siberia , the Ural region and the Volga Region . The Soviet Union became a major gas producer. In August 1989, under the leadership of the minister of Gas Industry of the Soviet Union (1985-1989) Viktor Chernomyrdin ,

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1152-404: A fictional planned economy in a United States around the year 2000 which has become a socialist utopia. Other literary portrayals of planned economies include Yevgeny Zamyatin 's We (1924). The government can harness land , labor , and capital to serve the economic objectives of the state. Consumer demand can be restrained in favor of greater capital investment for economic development in

1248-543: A focus on the management of the Soviet economy. Opposition from the Defence Ministry killed Kitov's plan. In 1971 the socialist Allende administration of Chile launched Project Cybersyn to install a telex machine in every corporation and organization in the economy for the communication of economic data between firms and the government. The data was also fed into a computer-simulated economy for forecasting. A control room

1344-813: A hasty version of planning with unrealistic targets, bureaucratic waste, bottlenecks and shortages . Stalin's formulations of national plans in terms of physical quantity of output was also attributed by Daniels as a source for the stagnant levels of efficiency and quality. Economist Robin Hahnel , who supports participatory economics , a form of socialist decentralized planned economy, notes that even if central planning overcame its inherent inhibitions of incentives and innovation, it would nevertheless be unable to maximize economic democracy and self-management, which he believes are concepts that are more intellectually coherent, consistent and just than mainstream notions of economic freedom. Furthermore, Hahnel states: Combined with

1440-593: A joint company Shtokman Development AG for development of the field. On 8 April 2013, in Amsterdam, Alexey Miller , chairman of the Gazprom management committee, and Jorma Ollila , chairman of the board of directors of Royal Dutch Shell , signed in the presence of Putin and Mark Rutte , prime minister of the Netherlands , a memorandum outlining the principles of cooperation within hydrocarbons exploration and development in

1536-533: A market in which allocations can be made in obedience to the law of supply and demand, it is difficult or impossible to funnel resources with respect to actual human preferences and goals". Historian Robert Vincent Daniels regarded the Stalinist period to represent an abrupt break with Lenin's government in terms of economic planning in which an deliberated, scientific system of planning that featured former Menshevik economists at Gosplan had been replaced with

1632-404: A more democratic political system, and redone to closer approximate a best case version, centrally planned economies no doubt would have performed better. But they could never have delivered economic self-management, they would always have been slow to innovate as apathy and frustration took their inevitable toll, and they would always have been susceptible to growing inequities and inefficiencies as

1728-470: A north fork to Hungary. On 18 December 2007, Frank-Walter Steinmeier (who was then Foreign Minister of Germany) and Dmitry Medvedev signed an agreement on behalf of BASF to exploit another gas field. At the time, German demand was 40% covered by Russian supply. Some German academics warned that Germany had become too dependent of Russia but Steinmeier, citing the new Ostpolitik , disregarded them. On 11 February 2008 Kuprianov threatened Ukraine with

1824-407: A planned economy in that a comprehensive and binding plan did not guide production and investment. The further distinction of an administrative-command system emerged as a new designation in some academic circles for the economic system that existed in the former Soviet Union and Eastern Bloc , highlighting the role of centralized hierarchical decision-making in the absence of popular control over

1920-457: A post-capitalist society. Decentralized planning has been a feature of anarchist and socialist economics . Variations of decentralized planning such as economic democracy , industrial democracy and participatory economics have been promoted by various political groups, most notably anarchists , democratic socialists , guild socialists , libertarian Marxists , libertarian socialists , revolutionary syndicalists and Trotskyists . During

2016-631: A project called Million Programme , implemented from 1965 to 1974. Some decentralized participation in economic planning occurred across Revolutionary Spain, most notably in Catalonia, during the Spanish Revolution of 1936 . In the May 1949 issue of the Monthly Review titled " Why Socialism? ", Albert Einstein wrote: I am convinced there is only one way to eliminate these grave evils, namely through

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2112-680: A single campus in Lomonosovsky District . Hinkson Christian Academy is also in the district. Gazprom PJSC Gazprom (Russian: Газпром , IPA: [ɡɐsˈprom] ) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. The Gazprom name is a contraction of the Russian words gazovaya promyshlennost ( газовая промышленность , gas industry). In January 2022, Gazprom displaced Sberbank from

2208-603: A state-owned company. Some analysts said the amount paid by Rosneftegaz for the stock was too low. The sale was completed by 25 December 2005. With the purchased stock and the thirty-eight percent share held by the State Property Committee, the Government of Russia gained control of Gazprom. The Government of Russia revoked the Gazprom twenty percent foreign ownership rule and the company became open to foreign investment. In September 2005, Gazprom bought 72.633 percent of

2304-685: A stoppage of flow; in January 2009 the threat was executed, beginning the 2009 Russia–Ukraine gas dispute . BASF's Jürgen Hambrecht was concerned about the reliability of his firm's supply but Miller assuaged his worries in a phone call, and the Europeans did nothing to change course for more than a decade. On 1 December 2014, during a visit to Turkey , Putin said the SouthStream project would not proceed and 63 billion cubic metres per year (bcm/y) of gas would be shipped to Turkey instead of Bulgaria . Bulgaria

2400-564: A subsidiary of BP plc , agreed to sell its stake in Kovykta field in Siberia to Gazprom after the Government of Russia questioned BP's right to export gas from Russia. On 1 August 2007, Gazprom's Sergey Kuprianov threatened Belarus with stoppage of their gas flow if the latter failed to pay off their debts and if so they would experience a 300% price increase. Two days later he saw significant progress towards payment and he expected to be paid by

2496-423: A trading loss and the need to increase the price in the domestic market by 34% over 3 years. Gazprom has also opened itself up to compensation claims for failure to supply gas under long term contracts. In 2011, Gazprom produced 513.17 billion cubic metres (18.122 trillion cubic feet) of natural gas, which was 17 percent of the worldwide production and 83 percent of Russian production. Of this amount,

2592-662: Is Russia's honorary consul in Verona, a former Italian communist and a close associate of both Alexey Anatolievich Matveev ( Russian : Алексей Анатольевич Матвеев ; born 21 December 1963) and Vladimir Putin, Italy's gas supplied by Russia had greatly increased from 25 percent in 2004 to 70 percent. In May 2006, the European Union received about 25 percent of its gas supply from Gazprom. In 2006, Gazprom entered several long term gas contracts with European companies. The contract prices were mainly linked to oil prices. In 2014, Europe

2688-470: Is also a large oil producer through its subsidiary Gazprom Neft , producing about 41 million tons of oil with reserves amounting to 2 billion tons. The company also has subsidiaries in industrial sectors, including finance , media and aviation , and majority stakes in other companies. Gazprom was created in 1989, when the Soviet Ministry of Gas Industry was converted to a corporation , becoming

2784-467: Is contested by some Marxists . Decentralized planning has been proposed as a basis for socialism and has been variously advocated by anarchists , council communists , libertarian Marxists and other democratic and libertarian socialists who advocate a non-market form of socialism, in total rejection of the type of planning adopted in the economy of the Soviet Union . Most of a command economy

2880-424: Is highly undemocratic and totalitarian in practice. Indicative planning is a form of economic planning in market economies that directs the economy through incentive-based methods. Economic planning can be practiced in a decentralized manner through different government authorities. In some predominantly market-oriented and Western mixed economies, the state utilizes economic planning in strategic industries such as

2976-631: Is majority-owned by the Russian government , via the Federal Agency for State Property Management and Rosneftegaz , while the remaining shares are traded publicly. Gazprom, listed on the Moscow Exchange, had a market capitalization of RUB3.94T (US$ 44.96 billion) in March 2000, which increased to US$ 80.56 billion by September 2019. In 1943, during World War II , the government of the Soviet Union developed

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3072-461: Is organized in a top-down administrative model by a central authority, where decisions regarding investment and production output requirements are decided upon at the top in the chain of command , with little input from lower levels. Advocates of economic planning have sometimes been staunch critics of these command economies. Leon Trotsky believed that those at the top of the chain of command, regardless of their intellectual capacity, operated without

3168-812: The Arctic shelf and a section of the deep-water shelf. In 2008, Gazprom carried out 284.9 kilometres (177.0 mi) of explorative well drilling; 124,000 kilometres (77,000 mi) of 2D seismic and 6,600 square kilometres (2,500 sq mi) of 3D seismic survey. As a result, gas reserves grew by 583.4 billion cubic metres (20.60 trillion cubic feet), and crude oil and gas condensate reserves grew by 61 million tons. Gazprom carries out prospecting and exploration in foreign countries such as India , Pakistan , Algeria , Venezuela , Vietnam , Libya , Kazakhstan , Uzbekistan , Kyrgyzstan and Tajikistan . Gazprom's Unified Gas Supply System (UGSS) includes 158,200 kilometres (98,300 mi) of gas trunklines and branches and 218 compressor stations with

3264-544: The Baltic Sea for sea transportation westward. It would process ethane -containing natural gas with a capacity of 13 million tons of LNG per year. In 2024, Gazprom faced a significant shortage of LNG tankers, leading the company to use the Marshal Vasilevskiy floating storage and regasification unit (FSRU) for exporting LNG from its Portovaya facility. This shortage occurred because Gazprom's regular tankers, such as

3360-717: The Black Sea . In 1997, the Blue Stream Pipeline agreement between Turkey and Russia was signed. In 2000, the first joint was welded. The pipeline has transported 16 billion cubic meters each year. Exploration of the Yamal peninsula has found reserves of over 10 trillion cubic metres of natural gas and over 500 million tons of oil and gas condensate. About 60 percent of these reserves are located in Bovanenkovo , Kharasavey and Novoportovo. The natural gas production capacity of

3456-573: The China National Petroleum Corporation made a contract worth $ 400 billion over thirty years. The contract was for Gazprom to deliver 38 billion cubic meters of natural gas per year to China beginning in 2018. In August 2014, construction began with pipes for the Power of Siberia pipeline delivered to Lensk, Yakutia. Russia will start supplying natural gas to China through the Power of Siberia pipeline on 20 December 2019 as part of

3552-789: The Egyptian countryside, for Hellenistic India , and to a lesser degree the more barbaric regions of the Seleucid , the Pergamenian , the southern Arabian , and the Parthian empires". Scholars have argued that the Incan economy was a flexible type of command economy, centered around the movement and utilization of labor instead of goods. One view of mercantilism sees it as involving planned economies. The Soviet-style planned economy in Soviet Russia evolved in

3648-484: The NEP period to counter structural inefficiency and the problem of bureaucracy. Economist Pat Devine has created a model of decentralized economic planning called "negotiated coordination" which is based upon social ownership of the means of production by those affected by the use of the assets involved, with the allocation of consumer and capital goods made through a participatory form of decision-making by those at

3744-524: The Nord Stream 2 contracts were signed, and by July 2021 the pipeline was commissioned. Following the Russian invasion of Ukraine in February 2022, the threat by Russia of reducing the supply of gas to Europe risked the Gazprom export market. When it was implemented, exports by Gazprom fell from the 185Bcm achieved in 2021 to 100Bcm in 2022 and fell again in 2023. The revenue of Gazprom, whilst initially supported by high prices collapsed in 2023 resulting in

3840-599: The Russia-Ukraine gas dispute , Gazprom ceased the supply of gas to the Ukrainian market. Gazprom called on the government of Ukraine to increase its payment for natural gas in line with increases in global fuel prices. During the night of 3 January 2006, and early morning of 4 January 2006, Naftogas of Ukraine and Gazprom negotiated a deal that temporarily resolved the long-standing gas price conflict between Russia and Ukraine. On 3 April 2006, Gazprom announced it would triple

3936-736: The Russian President , appointed Viktor Chernomyrdin , Gazprom's Chairman, his Prime Minister , the company's political influence increased. Rem Viakhirev took the chairmanship of Gazprom's Board of Directors and Managing Committee. Following the Decree of the President of the Russian Federation of 5 November 1992, and the Resolution of the Government of Russia of 17 February 1993, Gazprom became

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4032-604: The Southern Federal District and North Caucasus Federal District . Gazprom has invested about 480 billion rubles ($ 20 billion) in new major projects in order to maintain supply. Nearly 37 percent of Gazprom's reserves are located in the Yamal Peninsula and in the Barents Sea . One of Gazprom's major projects is the Blue Stream Pipeline. The Blue Stream Pipeline delivers natural gas to Turkey via

4128-531: The Spanish Revolution , some areas where anarchist and libertarian socialist influence through the CNT and UGT was extensive, particularly rural regions, were run on the basis of decentralized planning resembling the principles laid out by anarcho-syndicalist Diego Abad de Santillan in the book After the Revolution . Trotsky had urged economic decentralisation between the state, oblast regions and factories during

4224-707: The Yamburg subsidiary produced 41 percent, Urengoy 23.6 percent, Nadym 10.9 percent, Noyabrsk 9.3 percent and others 15.2 percent. In addition, the company produced 32.28 million tons of oil and 12.07 million tons of gas condensate. The majority of Gazprom's fields are located in the Nadym-Pur-Taz region (near the Gulf of Ob ) in Yamalo-Nenets Autonomous Okrug in Western Siberia . Historically,

4320-518: The 1970 Chilean distributed decision support system Project Cybersyn in an attempt to move towards a decentralized planned economy with the experimental viable system model of computed organisational structure of autonomous operative units through an algedonic feedback setting and bottom-up participative decision-making in the form of participative democracy by the Cyberfolk component. The 1888 novel Looking Backward by Edward Bellamy depicts

4416-505: The Baltic states. Gazprom received about 60 percent of its revenue from its sales to European customers. In 2008, the average gas price paid by Russian industrial customers was $ 71/mcm, while households paid $ 54/mcm. Since 2000, Natural gas prices have fluctuated. In late 2007, the price of natural gas at the New York NYMEX was $ 7.53 per million British thermal units ($ 25.7/ MWh ). At

4512-462: The Bovanenkovo field was estimated to be 115 billion cubic metres per annum (4.1 trillion cubic feet per annum), with potential to increase to 140 billion cubic metres per annum (4.9 trillion cubic feet per annum). The Shtokman field is one of the world's largest natural gas fields. It is located in the central part of the Barents Sea , 650 kilometres (400 mi) northeast of

4608-534: The Chinese to build the remaining pipeline. In January 2023, as a result of the sanctions imposed on Russia (as a result of the invasion of Ukraine in 2022), Gazprom announced its exports of gas fell 45% from 185Bcm to 101Bcm, mainly due to the loss of the European market. During 2023 exports fell again, with Europe purchasing just 28Bcm, a level not seen since the 1970's. On 1 January 2006, at 10:00 (Moscow time), during

4704-940: The Gazprom Neft shares for $ 13.1 billion. Gazprom's ability to supply natural gas to domestic market and for reexport has relied to a large extent on imports from Central Asia . In 2007, Gazprom imported a total of 60.7 billion cubic metres (2.14 trillion cubic feet) from Central Asia: 42.6 billion cubic metres (1.50 trillion cubic feet) from Turkmenistan , 8.5 billion cubic metres (300 billion cubic feet) from Kazakhstan , and 9.6 billion cubic metres (340 billion cubic feet) from Uzbekistan . In particular, Gazprom purchased seventy-five percent of Turkmenistan gas exports in order to supply gas to Ukraine . In 2008, Gazprom paid $ 130/mcm to $ 180/mcm for gas from Central Asia. In 2015, Gazprom's proved and probable reserves of natural gas were 23.705 trillion cubic metres (837.1 trillion cubic feet),

4800-524: The Government of Russia received little in dividends . Gazprom managers and board members, such as Chernomyrdin and the Gazprom Chief Executive Officer , Rem Viakhirev , engaged in asset-stripping . Gazprom assets were shared amongst their relatives. Itera , a gas trading company also received Gazprom assets. In March 1998, for reasons unrelated to his activities at Gazprom, Chernomyrdin was fired by Yeltsin. On 30 June 1998, Chernomyrdin

4896-552: The Ministry of Gas Industry was renamed the State Gas Concern Gazprom , and became the Soviet Union's first state-run corporate enterprise. In late 1991, when the Soviet Union dissolved , gas industry assets were transferred to newly established national companies, such as Naftogaz and Turkmengaz . Gazprom kept assets located in Russia and secured a monopoly in the gas sector. In December 1992, when Boris Yeltsin ,

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4992-529: The Pskov, were involved in extended voyages to Asia, avoiding the Suez Canal and Red Sea due to security threats from Houthi attacks . In 2006, Gazprom sold 316 billion cubic metres (11.2 trillion cubic feet) of gas to domestic customers; 162 billion cubic metres (5.7 trillion cubic feet) to the rest of Europe; and 101 billion cubic metres (3.6 trillion cubic feet) to CIS countries and

5088-538: The Russian Government authorised a long-term programme to develop and expand the liquefied natural gas industry in Russia with nine more LNG plants, to address the growing global LNG market. In August 2021 Russia's first LNG bunkering vessel, Dmitry Mendeleev , was completed for Gazprom. In October 2021, Gazprom and RusGazDobycha announced they would build a new plant, Baltic LNG , at Ust-Luga , with access to

5184-472: The Soviet economy on the basis of a network of computing centers in 1959. Kitov's proposal was rejected, as later was the 1962 OGAS economy management network project. Soviet cybernetician , Viktor Glushkov argued that his OGAS information network would have delivered a fivefold savings return for the Soviet economy over the first fifteen-year investment. Salvador Allende 's socialist government pioneered

5280-459: The aerospace industry. Mixed economies usually employ macroeconomic planning while micro-economic affairs are left to the market and price system. A decentralized-planned economy, occasionally called horizontally planned economy due to its horizontalism , is a type of planned economy in which the investment and allocation of consumer and capital goods is explicated accordingly to an economy-wide plan built and operatively coordinated through

5376-558: The city of Murmansk and 1,000 kilometres (620 mi) west of the Yamal Peninsula. The field is estimated to contain up to 3.7 trillion cubic metres (130 trillion cubic feet) of gas. Potential production is 71 billion cubic metres per annum (2.5 trillion cubic feet per annum) in the initial phases, with a potential increase to 95 billion cubic metres per annum (3.4 trillion cubic feet per annum). Gazprom, TotalEnergies (France) and Statoil (Norway) created

5472-546: The computer is more efficient than the market process at solving the multitude of simultaneous equations required for allocating economic inputs efficiently (either in terms of physical quantities or monetary prices). In the Soviet Union, Anatoly Kitov had proposed to the Central Committee of the Communist Party of the Soviet Union a detailed plan for the re-organization of the control of the Soviet armed forces and of

5568-563: The context of a mixed economy as well as in a post-capitalist economic system. This form of economic planning implies some process of democratic and participatory decision-making within the economy and within firms itself in the form of industrial democracy . Computer-based forms of democratic economic planning and coordination between economic enterprises have also been proposed by various computer scientists and radical economists . Proponents present decentralized and participatory economic planning as an alternative to market socialism for

5664-403: The contract, Russia was to supply 38 billion cubic meters of gas annually over 30 years at a cost of $ 350 per thousand cubic meters beginning in 2018. In 2013, the average price of Gazprom's gas in Europe was about $ 380 per thousand cubic meters. China offered a loan of about $ 50bn to finance development of the gas fields and the construction of the pipeline by Russia up to the Chinese border, with

5760-399: The domestic market will see price rises of 34% by July 2025. Gazprom delivered gas to 25 European countries. Its main export arm is Gazprom Export LLC, founded in 1973 and before 1 November 2006 known as Gazexport, which has a monopoly on gas exports to countries outside of the former Soviet Union. The majority of Russian gas in Europe is sold on 25-year contracts. In late 2004, Gazprom

5856-695: The economy. More recent approaches to socialist planning and allocation have come from some economists and computer scientists proposing planning mechanisms based on advances in computer science and information technology. Planned economies contrast with unplanned economies , specifically market economies , where autonomous firms operating in markets make decisions about production, distribution, pricing and investment. Market economies that use indicative planning are variously referred to as planned market economies , mixed economies and mixed market economies . A command economy follows an administrative-command system and uses Soviet-type economic planning which

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5952-459: The economy. The possibility of a digital planned economy was explored in Chile between 1971 and 1973 with the development of Project Cybersyn and by Aleksandr Aleksandrovich Kharkevich , head of the Department of Technical Physics in Kiev in 1962. While both economic planning and a planned economy can be either authoritarian or democratic and participatory , democratic socialist critics argue that command economies under modern-day communism

6048-457: The economy. The goal of such an economic system would be to achieve conscious control over the economy by the population, specifically so that the use of the surplus product is controlled by the producers. The specific forms of planning proposed for socialism and their feasibility are subjects of the socialist calculation debate . In 1959 Anatoly Kitov proposed a distributed computing system (Project "Red Book", Russian : Красная книга ) with

6144-420: The effects of differential economic power grew. Under central planning neither planners, managers, nor workers had incentives to promote the social economic interest. Nor did impeding markets for final goods to the planning system enfranchise consumers in meaningful ways. But central planning would have been incompatible with economic democracy even if it had overcome its information and incentive liabilities. And

6240-457: The establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals. In such an economy, the means of production are owned by society itself and are utilized in a planned fashion. A planned economy, which adjusts production to the needs of the community, would distribute the work to be done among all those able to work and would guarantee a livelihood to every man, woman, and child. The education of

6336-421: The expansion of light industry and without reliance on external financing. This is what happened in the Soviet Union during the 1930s when the government forced the share of gross national income dedicated to private consumption down from 80% to 50%. As a result of this development, the Soviet Union experienced massive growth in heavy industry, with a concurrent massive contraction of its agricultural sector due to

6432-415: The families of sailors who died during the Kursk submarine disaster and additional criticism of Putin's handling of the Second Chechen War . Gusinsky then fled Russia which Gazprom taking over NTV. In June 2005, Gazprombank , Gazpromivest Holding, Gazfond and Gazprom Finance B. V., subsidiaries of Gazprom, sold a 10.7399% share of their stock for $ 7 billion to Rosneftegaz  [ ru ] ,

6528-405: The first place in the list of the largest company in Russia by market capitalization. In 2022, the company's revenue amounted to 8 trillion rubles. Gazprom is vertically integrated and is active in every area of the gas industry, including exploration and production , refining , transport , distribution and marketing , and power generation . In 2018, Gazprom produced twelve percent of

6624-479: The first state-run corporate enterprise in the Soviet Union . After the Soviet Union's dissolution , Gazprom was privatized, retaining its Russia-based assets. At that time, Gazprom evaded taxes and state regulations and engaged in asset stripping . The company later returned to government control in the early 2000s, and since then, the company has been involved in the Russian government's diplomatic efforts, setting of gas prices, and access to pipelines. The company

6720-441: The former stressed the theoretical underpinnings of a market economy to subjective value theory while attacking the labor theory of value , the latter argued that the only way to satisfy individuals who have a constantly changing hierarchy of needs and are the only ones to possess their particular individual's circumstances is by allowing those with the most knowledge of their needs to have it in their power to use their resources in

6816-433: The global output of natural gas, producing 497.6 billion cubic meters of natural and associated gas and 15.9 million tonnes of gas condensate . Gazprom then exports the gas through pipelines that the company builds and owns across Russia and abroad, such as Nord Stream 1 and TurkStream . In the same year, Gazprom has proven reserves of 35.1 trillion cubic meters of gas and 1.6 billion tons of gas condensate. Gazprom

6912-483: The individual, in addition to promoting his own innate abilities, would attempt to develop in him a sense of responsibility for his fellow-men in place of the glorification of power and success in our present society. While socialism is not equivalent to economic planning or to the concept of a planned economy, an influential conception of socialism involves the replacement of capital markets with some form of economic planning in order to achieve ex-ante coordination of

7008-450: The input and participation of the millions of people who participate in the economy and who understand/respond to local conditions and changes in the economy. Therefore, they would be unable to effectively coordinate all economic activity. Historians have associated planned economies with Marxist–Leninist states and the Soviet economic model . Since the 1980s, it has been contested that the Soviet economic model did not actually constitute

7104-542: The labor shortage. Studies of command economies of the Eastern Bloc in the 1950s and 1960s by both American and Eastern European economists found that contrary to the expectations of both groups they showed greater fluctuations in output than market economies during the same period. Critics of planned economies argue that planners cannot detect consumer preferences, shortages and surpluses with sufficient accuracy and therefore cannot efficiently co-ordinate production (in

7200-452: The most localized level of production. Moreover, organizations that utilize modularity in their production processes may distribute problem solving and decision making. The planning structure of a decentralized planned economy is generally based on a consumers council and producer council (or jointly, a distributive cooperative) which is sometimes called a consumers' cooperative . Producers and consumers, or their representatives, negotiate

7296-472: The new price levels. Command economy A planned economy is a type of economic system where investment , production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized , decentralized , participatory or Soviet-type forms of economic planning . The level of centralization or decentralization in decision-making and participation depends on

7392-410: The next week. On 23 June 2007, the governments of Russia and Italy signed a memorandum of understanding towards a joint venture between Gazprom and Eni SpA to construct a 558-mile (900 km) gas pipeline to carry 1.05 trillion cubic feet (30 km ) gas per year from Russia to Europe. This South Stream pipeline would extend under the Black Sea to Bulgaria with a south fork to Italy and

7488-744: The oil company Sibneft for $ 13.01 billion. Sibneft was renamed Gazprom Neft . The purchase was aided by a $ 12 billion loan. Gazprom became Russia's largest company. On the day of the deal the company worth was valued at £ 69.7 billion (US$ 123.2 billion). In July 2006, On Gas Export was enacted with nearly unanimous vote from the State Duma . This law gave Gazprom the exclusive right to export natural gas from Russia. In December 2006, Gazprom signed an agreement with Royal Dutch Shell , Mitsui and Mitsubishi , to take over fifty percent plus one share of Sakhalin Energy . In June 2007, TNK-BP ,

7584-478: The planned system of regular five-year plans started in 1928. Leon Trotsky was one of the earliest proponents of economic planning during the NEP period. Trotsky argued that specialization , the concentration of production and the use of planning could "raise in the near future the coefficient of industrial growth not only two, but even three times higher than the pre-war rate of 6% and, perhaps, even higher". According to historian Sheila Fitzpatrick ,

7680-512: The power to vote out Viakhirev. Chernomyrdin and Viakhirev were replaced by Dmitry Medvedev and Alexei Miller . They were Putin's prior employees in Saint Petersburg . Putin's actions were aided by the shareholder activism of Hermitage Capital Management Chief Executive Officer William Browder , and the former Russian Finance Minister Boris Fyodorov . Miller and Medvedev were to stop asset stripping at Gazprom and to recover losses. Itera

7776-578: The price of natural gas to Belarus after 31 December 2006. In December 2006, Gazprom threatened to cease supply of gas to Belarus at 10 am Moscow time on 1 January 2007, unless Belarus increased payments from $ 47 to $ 200 per 1,000 cubic metres or to cede control over its distribution network. Some analysts suggested Moscow was penalising Alexander Lukashenko , the President of Belarus, for not delivering on pledges of closer integration with Russia , while others noted that other countries like Armenia were paying as much for their gas as Belarus would with

7872-520: The quality and quantity of what is to be produced. This structure is central to guild socialism , participatory economics and the economic theories related to anarchism . Some decentralized participation in economic planning has been implemented in various regions and states in India , most notably in Kerala . Local level planning agencies assess the needs of people who are able to give their direct input through

7968-458: The scholarly consensus was that Stalin appropriated the position of the Left Opposition on such matters as industrialisation and collectivisation . After World War II (1939–1945) France and Great Britain practiced dirigisme – government direction of the economy through non-coercive means. The Swedish government planned public-housing models in a similar fashion as urban planning in

8064-445: The specific type of planning mechanism employed. Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism . Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially owned economic enterprises that make up

8160-572: The three largest fields are Medvezhe, Urengoy and Yamburg . After more than twenty years of production, the fields are now in decline. Production from the fields has decreased by twenty to twenty-five bcm per year. The production at Zaporliarnoe , Gazprom's fourth largest field, increased until 2004, offsetting the decline in the other fields. Since 2004, Gazprom has maintained production by activating new smaller fields and by purchasing production assets from other companies. Gazprom Neft produces crude oil. In 2005, Gazprom purchased 75 percent of

8256-561: The truth is that it survived as long as it did only because it was propped up by unprecedented totalitarian political power. Planned economies contrast with command economies in that a planned economy is "an economic system in which the government controls and regulates production, distribution, prices, etc." whereas a command economy necessarily has substantial public ownership of industry while also having this type of regulation. In command economies, important allocation decisions are made by government authorities and are imposed by law. This

8352-562: The two countries' $ 400 billion energy pact. Beijing and Moscow are now negotiating over a second Far Eastern gas pipeline. In June 2014, Gazprom negotiated with the International Petroleum Investment Company (IPIC of Abu Dhabi ) over a 24.9 percent stake in the Austrian oil and gas firm OMV . In July 2014, Gazprom acquired Central Partnership , one of the largest film distributors in Russia. In September 2015

8448-567: The wake of a continuing existing World War I war-economy as well as other policies, known as war communism (1918–1921), shaped to the requirements of the Russian Civil War of 1917–1923. These policies began their formal consolidation under an official organ of government in 1921, when the Soviet government founded Gosplan . However, the period of the New Economic Policy ( c.  1921 to c.  1928 ) intervened before

8544-808: Was being sued by the European Union for signing a contract with Russia, which was not aligned with European Union regulations. The president of Bulgaria, Rosen Plevneliev , pressured the European Union and Russia to quickly resolve the matter. On 4 September 2012, the European Commission announced an anti-trust investigation into Gazprom's activities. This was based on "concerns that Gazprom may be abusing its dominant market position in upstream gas supply markets." In late November 2013, Gazprom expanded its media interests by acquiring Profmedia from Vladimir Potanin . On 21 May 2014, in Shanghai , Gazprom and

8640-433: Was built for real-time observation and management of the overall economy. The prototype-stage of the project showed promise when it was used to redirect supplies around a trucker's strike, but after CIA-backed Augusto Pinochet led a coup in 1973 that established a military dictatorship under his rule the program was abolished and Pinochet moved Chile towards a more liberalized market economy . In their book Towards

8736-475: Was characteristic of the former Soviet Union and Eastern Bloc before most of these countries converted to market economies. This highlights the central role of hierarchical administration and public ownership of production in guiding the allocation of resources in these economic systems. In the Hellenistic and post-Hellenistic world, "compulsory state planning was the most characteristic trade condition for

8832-507: Was denied access to Gazprom's pipelines and came close to bankruptcy . In 2006, Itera agreed to return stolen assets to Gazprom for a fee. Browder was deported from Russia, in 2005, and the Russian arm of Hermitage Capital Management was seized two years later. In April 2001, Gazprom acquired NTV , Russia's only nationwide state-independent television station, from Vladimir Gusinsky 's company, Media-Most Holdings. Gusinsky fell out of Putin's favor after using NTV to publish criticism from

8928-468: Was gradually lowered to thirty-eight percent. Trading of Gazprom's shares was heavily regulated. Foreigners were prohibited from owning more than nine-percent of the shares. In October 1996, 1% of Gazprom's equity was offered for sale to foreigners as Global Depository Receipts . In 1997, Gazprom offered a bond issue of US$ 2.5 billion. Chernomyrdin, as Prime Minister of Russia , ensured Gazprom avoided tight state regulation. Gazprom evaded taxes, and

9024-573: Was made Chairman of the Board of Directors of Gazprom. When, in June 2000, Vladimir Putin became the President of Russia, he acted to gain control over Russia's oligarchs , and increase the Government of Russia's control in important companies through a program of national champions . Putin fired Chernomyrdin from his position as the Chairman of the Gazprom board. The Russian Government's stock in Gazprom gave Putin

9120-579: Was the sole gas supplier to Bosnia and Herzegovina, Estonia, Finland, Macedonia, Latvia, Lithuania, Moldova, Serbia and Slovakia. It provided 97 percent of Bulgaria's gas, 89 percent of Hungary's gas, 86 percent of Poland's gas, nearly 75 percent of the Czech Republic's, 67 percent of Turkey's, 65 percent of Austria's, about 40 percent of Romania's, 36 percent of Germany's, 27 percent of Italy's, and 25 percent of France's gas. By December 2010 with strong support from Alexander Medvedev and Antonio Fallico, who

9216-526: Was the source of 40% of Gazprom's revenue. The proportion of Europe's gas bought in the spot market rose from 15 percent in 2008 to 44 percent in 2012. In September 2013, during the G20 summit, Gazprom signed an agreement with CNPC that the Henry Hub index would not be used to settle prices for their trades. On 21 May 2014, Putin met with Xi Jinping and negotiated a $ 400bn deal between Gazprom and CNPC. Under

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