Russia is gradually becoming a more attractive prospect for project finance, especially in the oil and gas industry. Ben Aris reports on progress and on old problems that still blight opportunities.
Russia’s potential as a project finance market is plain to see but so are the dangers. Having set out on the road to sustainable growth, companies and investors are in the unusual position of being spoilt for opportunities. However, the slow pace of structural reform has meant that few have taken the plunge.