Legal and Political Risks of Investing in Russia. Karl Brown, Cathy Bundy, Randy Cubriel, and Mike Dombroski. Background Statistics. World’s largest natural gas reserves 2 nd largest coal reserves 8 th largest oil reserves Largest exporter of natural gas 2 nd largest oil exporter .
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Karl Brown, Cathy Bundy, Randy Cubriel, and Mike Dombroski
Risk of Government or Court Intervention
Provisions must comply with Russian Federal Law
Government’s Ability to Amend the PSA
Requirements Assume Adequate Resources
Analysts speculate that the actions weren’t motivated by environmental concerns
Motivated by government desire to give Gazprom a bigger share
In 2005, Shell offered 25% of share to state-run company Gazprom for a 50% share in Gazprom field
Government and Gazprom not content