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THE TIGHT GAS-SUPPLY SITUATION IN RUSSIA IS NOT THE RESULT OF LIMITED RESERVES, BUT RATHER GAZPROM'S KREMLIN-DRIVEN INVESTMENT
STRATEGY

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The tight supply situation in Russia is not the result of limited reserves, but rather Gazprom's Kremlin-driven investment strategy. the need for fiscal, legal and regulatory reforms ( including streamlined environmental and safety regulations) remains pressing. Such measures are critical to ensuring an attractive environment for gas investments that will buoy Russia economic growth and global energy market stability.
Russia is and will remain an energy superpower.

Its energy self-sufficiency puts the country in a strong position for future economic development and the energy sector will remain attractive to foreign investors. At the same time, Russia remains gas-dependent and energy inefficient. But instead of concentrating on market and structural reforms and energy-efficiency improvement, the government focused on tightening the state's grip on what it deems a steategic sector.

However, most middle Eastern countries are closed to foreign investment, or at least to ownership of reserves; 라틴아메리카 is an increasingly challenging place to do business with the rise of resource nationalism in Venezuela and 볼리비아; and west Africa's chronic political instability causes repeated problems.

For all its shortcomings, Russia still offers an attractive combination of rich deposits and a workable business climate, with reason to hope that future investments can be both secure and profitable.