Energy

The source of life for all Russia’s and CIS countries’ industries, the energy sector both shapes key financial and economic indicators and strengthens the country’s status on the international arena.

Today, the Russian Federation is an important energy power with 13% of global oil reserves, 14% of global natural uranium reserves, 45% of global gas reserves, and almost 25% of global coal reserves in its possession.

Along with Russia, Ukraine and Kazakhstan remain strategically important countries in oil and gas transportation, production, and refinery projects.

A number of large companies have plans to increase production and investments in the development of both national and international projects in 2010. In January 2010 alone, Russia’s total oil production increased by 2.8%, gas production — by 16% compared to the same period in 2009. Ukraine boosted natural gas transportation in January 2010 by 117%. Russia’s Ministry of Industry and Energy forecasts the energy sector’s overall annual revenue will rise by half by 2010, while energy commodities exports may increase by 45 to 64% by 2020 — thus supporting sustainability of the country’s balance of payments and strengthening its economic condition and influence.

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