Related Articles
Forward article link
Share PDF with colleagues

Russia's gas champion Gazprom under pressure

Shifting global fundamentals have weakened Russia's gas champion. A shake-up may be on the cards

While the Russian government denied in May that it was planning to split Gazprom, there is no doubt the state-controlled gas monopoly remains under intense pressure both at home and abroad. It's hard to pinpoint exactly when it all started to go wrong for Gazprom, which has long held a sacrosanct position in Russia's state-owned corporate firmament. Russian President Vladimir Putin went so far as to say at the company's 10th anniversary bash in 2003 that the company was an "explicit tool of foreign policy". But since 2007, when, in a moment of hubris, Gazprom chief executive Alexei Miller promised to create the world's first $1 trillion company, the firm has seen its market capitalisation dr

Also in this section
Nigeria's election hangs over energy sector
19 April 2018
Africa's biggest economy is growing again. But next year's vote is stalling reform and investment in its crucial energy sector
Syria: ruthless business as usual
18 April 2018
The joint US-UK-French strikes on chemicals targets in Syria won’t affect the war—but they could damage Trump's image in the region
Elections a new rupture point in Venezuela crisis
16 April 2018
A Maduro loss in May's election could be a turning point, but recovery will be lengthy