Gazprom - Definition and Overview

Gazprom is a major Russian company and the biggest natural gas extractor, with over € 18 billion sales in 2002, it accounts for about 90% of Russian and 23% of world gas production (with reserves of 17,800 km³). Gazprom supplies almost all the gas needs of central Europe and the former Soviet Union.

Gazprom has been controlled by the state since before its creation in 1993. In 2003 the Russian government held a 38.37% stake in the company, and had a majority on the company’s board of directors. Gazprom provides 25% of all Russian tax revenues (averaging over $4 billion annually between 1993-2003) and accounts for 8% of the nation’s gross domestic product. Non-Russian investors may legally buy Gazprom shares only through American Depositary Shares, which cost more than locally traded shares.

See also

• List of Russian companies

External links

• Gazprom (http://www.gazprom.ru/eng/)
• Data
  • Yahoo! - OAO Gazprom Company Profile (http://biz.yahoo.com/ic/52/52477.html)
• Articles
  • Alexander's Gas & Oil COnnections - Gazprom (http://www.gasandoil.com/goc/company/cnr31095.htm)
  • Guardian.co.uk: Gazprom bond in heavy demand (http://www.guardian.co.uk/business/story/0,3604,1042838,00.html)