In recent years, Russia has strengthened its position as a ma-jor producer and exporter of hy-drocarbons. In fact, during the 2000s, the production and exports of natural gas and oil have steadily increased.
In addition, while the Russian Fed-eration is one of the major energy supplier of Western European countries, economic development in emerging economies, especially in the Asia-Pacific Ring, has opened new opportunities for ex-panding the Russian energy indus-try. However, Russia’s current reserves of both oil and gas are being slowly drained. The national hydrocarbon extractive industry is currently suffering from lack of investments, hampering the devel-opment and the exploration of recoverable resources, and is therefore over reliant on developed fields.
As a result, in 2010 Russia ap-proved adopted a number of policy instruments to expand the national energy industry and to ensure the development of unexploited re-sources.