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Assessing efficiency of the development of the Elginsky Field
The paper assesses the development of the Elginsky Coal Field located in the area of Baikal-Amur Main Line (BAM) by Discounted Cash Flow Analysis and Real Options Analysis. The latter allowed us to state that the decision made by the company «Russian Rail Ways» («RZhD») on its withdrawal from this project proved to be commercially erroneous. Applying a Black - Scholes model, we can state that a license price for the development of the Elginsky Coal Field proved to be underestimated at the public tender.
Shemetova V. G. viktoriya-shemetova@yandex.ru
Keywords: assessment area of the Baikal-Amur Railroad project area of Baikal-Amur Main Line (BAM) Elginsky Coal Field assessments real options analysis discounted cash flow analysis
Integrated assessment of large regional projects
The intersectoral instruments proposed to assess disbenefits of a project being implemented in a region allow analyzing not only the effect of the project on a local economy, as a limited number of contiguous and visible links are taken into consideration, but also its effect on a national economy. To illustrate this, we applied here the natural gas development project for Yamal peninsula. In our opinion, the intensive implementation of this project is required even if the world‘s demand for gas drops.
Malov V. Yu. malov@ieie.nsc.ru
Melentiev B. V. melentev@ieie.nsc.ru
Keywords: intersectoral interregional models complexity structure assessment assessment natural gas goals efficiency project
