| Summary: | Main challenges of the regional gas industry functioning in the extreme conditions of the North include a high degree of the main assets wear. It is primarily connected with the lack of geological survey works, absence of the integral gas transport system and lack of investments. The currently existing system of state regulation of the gas producing company's activity in the Sakha (Yakutia) Republic does not allow to maintain the balance of interests between gas enterprises and consumers, and produces a negative impact on the creation establishment stable conditions for the economy functioning and innovative development in the region. The problem of price control in the natural gas market remains particularly acute. A provision for settlement of these challenges is the increase in effectiveness of the state control for the natural gas pricing by means of development of an economically justified pricing method and its application in the state control of the gas wholesale price offered by gas producing companies in the energy-isolated territories of Russia, the mechanism of which is suggested in this article. DOI:10.5901/mjss.2015.v6n4s4p103
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