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The motives of Russian state-owned companies for outward foreign direct investment and its impact on state-company cooperation: observations concerning the energy sector
- Source: Transnational Corporations, Volume 23, Issue 1, Dec 2015, p. 29 - 58
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- 31 Dec 2015
Abstract
This paper analyses cooperation between state institutions and state-owned energy companies of the Russian Federation on the basis of three examples of outward foreign direct investments (OFDI): the acquisition by nuclear power company Atomstroyexport of Nukem Technologies in Germany; the gas giant Gazprom and its South Stream investment package in Hungary; and the oil company Zarubezhneft’s acquisition of the Optima Group in Bosnia-Herzegovina. The research is based on the analyses of media reports, official state and company documents, and interviews conducted with representatives of the state-owned energy companies and state officials. The analysis suggests that Russian state-owned energy companies only initiate cooperation with state institutions when the circumstances require certain financial and diplomatic support to conduct OFDI.
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