This article is dedicated to the urgent problem of forming a new strategy for the development of the international oil and gas business in the context of the global impact of innovative technology. The authors have identified a complex and multi-aspect nature of the interconnection between innovation and economic development. One should note that modern models of economic growth and development of the international oil and gas business which are aimed at the adequate reflection of reality should necessarily take into account the phenomenon of innovation and their diffusion as well as consider an innovation factor as both endogenous and exogenous variables. However, at present, separate sub-sectors of the Russian fuel and energy complex operate in the regime of both moral and physical deterioration of their production and resource potential. It was revealed that in order for the oil and gas business to act as a single entity and provide a synergetic effect in achieving energy and economic national security, it had the necessary organisational basis for its sustainable development, it is advisable to form a mechanism for coordinating the interests of the state and business in the development of the oil and gas complex. The coordinator of interests should be a state that is able to develop and implement a single integrated program for the development of the oil and gas industry and to influence on its segments to harmonise and stabilise development in the long term. The degree of the state participation, the instruments of its indirect impact on the functioning and development of the oil and gas business are, first of all, called upon to ensure the proper level of energy security of the state, taking into account both endogenous and exogenous factors in the development of the oil and gas complex.