Innovation Policy as an Instrument of Technological Development of the Largest State-owned Companies in Russian Fuel and Energy Complex

Due to the fact that in today’s world the basis of sustainable development is innovations, the Commission under the Government of the Russian Federation made a decision in 2009 to compel domestic companies (PJSC Gazprom, PJSC NK Rosneft, SC Rosatom) to elaborate innovative development programs. More than 40 companies from different fields of activity (including the representatives of the fuel and energy sector) have developed innovative development plans, which allow to assess how innovation policy is implemented in the country, look at the merits and demerits, and make appropriate adjustments and changes. The present work is aimed to study ways of innovative activity support, as well as reviewing the existing mechanisms used by companies of the fuel and energy complex in the implementation of innovation policy, followed by their evaluation through various methods and models. Studying different documents and developed state programs, using data from the annual reports of the companies, as well as other relevant literature, the author will confirm the hypothesis that there is a number of potential positive effects arising from the implementation of innovation policy by Russian companies that lead to an increase in the efficiency of operating activity and capitalization in the long term.