The Yamal-Nenets Autonomous Area is one the most strategically important regions in Russia. The 2009 local gross regional product is estimated at 717.6 billion roubles, which is more than 1.3 million roubles per capita. The Area's GRP is the eighth largest of the constituent entities of the Russian Federation, and second highest in terms of per capita.
The performance of the Area's oil and gas sector facilitates stable socio-economic development of the Russian Federation in many ways. In 2008, oil output including gas condensate was 39.2 million tonnes and gas output was 575.0 billion cubic metres.
Yamal-Nenets has one of the largest gas pipeline systems in the world, enabling the transport of almost 600 billion cubic metres to markets outside of the Area.
The Area's harsh climatic conditions, large distances, and distance from key markets are natural barriers for its development. The Area's limited transport infrastructure constrains resources development on the Yamal Peninsula, as well as in the Arctic Urals, the northwest part of the region, and the north of the Krasnoyarsk Territory.
The Yamal-Nenets Autonomous Area's competitive advantages in the Russian economy primarily have to do with the availability of exceptional natural resources.
The Area's potential in terms of proven hydrocarbon reserves is 61 trillion cubic metres of gas and 19 billion tonnes of oil and gas condensate.
Given the ongoing development of the Yamal Peninsula's distinctive hydrocarbon fields, including virgin fields set apart in the context the mineral resources reserve fund, and plans to licence the unallocated portions of the mineral resources reserve fund, natural gas production could reach 750 billion cubic metres per year by 2020, while that of oil and gas condensate could reach up to 115 million tonnes in the same period.
The Yamal-Nenets Autonomous Area also has considerable reserves of chromium ore, iron ore, bituminous coal, timbre, and other biological resources. The exploitation of these resources will facilitate the diversification of the region's economy.
The Area continues to be one of Russia's largest venues for investment, ranking fourth among constituent entities of the Russian Federation in volume of fixed capital investment in 2008. The total volume of investment from all donors for 2009 is estimated to reach 426.2 billion roubles, or 101.5% of 2008 levels in terms of comparable prices. Increasing the investment potential of Yamal-Nenets will facilitate industrial and transport infrastructure projects. The largest investment programme implemented in the Area is the "Programme for integrated development of the Yamal Peninsula and adjacent offshore areas," developed jointly by Gazprom and the Area's government. The programme clearly expresses the objective of the Russian Federation's long-term Arctic policy for the regions - development of oil and gas fields on the Yamal Peninsula, the Kara Sea continental shelf, and in the Gulf of Ob.