Gazprom

Categories: News | Companies
    • Stock symbol: (RTS: GAZP)
    • Annual revenue (2007): $62 Billion
    • Year Established: 1989
    • Industry: Natural Gas Extraction
    • Phone: +7-495-719-30-01
    • Fax: +7-495-719-83-33
    • HQ: Moscow, Russia
    • Products: Natural Gas

  • Gazprom is a largest Russian company and largest natural gas extractor in the world. The Russian Government holds 50.01% shares of this company. Gazprom is the sole gas supplier to Bosnia and Herzegovina, Estonia, Finland, Macedonia, Latvia, Lithuania, Moldova and Slovakia with 119 billion barrels in reserve.

    On January 1, 2009, Gazprom stopped the gas flow to Ukraine after the country said it would not pay the increase in prices Gazprom had proposed.International Herald Tribune: Gazprom shuts off gas links to Ukraine (January 1, 2009) Following this move, Gazprom attempted to silence international pressure by routing additional supply to Europe through Belarus on January 3, 2009.Bloomberg.com: Gazprom Boosts Belarus Gas Supplies ... (January 3, 2009) Pleading talks between the European Union and government representatives in Moscow and Kiev in mid-January 2009 proved unsuccessful.Reuters: EU premiers plead with Ukraine and Russia for gas (January 14, 2009)

  • Key Dates

    1. 1989: Gazprom was founded
    2. 1993: Gazprom is privatized

  • Privatization

    When former Russian president Boris Yeltsin appointed forner Gazprom head Victor Chernomyrdin as Prime Minister in 1992, Gazprom's political influence grew markedly. In 1993 the government started a program to distribute purchasing options to the public, allowing citizens to buy shares in the formerly state owned business.

  • Cutting Off Supplies

    Gazprom stopped the gas flow to Ukraine on January 1, 2009, after the country said it would not pay the increase in prices Gazprom had proposed. The country said it had enough reserves to meet demands for three months and the move was not likely to immediately affect gas supply in Ukraine. The shutoff was the second time in the last three years that Gazprom had cut off supplies to the country. The move was not expected to raise gas prices in the near future.International Herald Tribune: Gazprom shuts off gas links to Ukraine (January 1, 2009)

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