New Era For Gazprom, As Gas Giant’s Fortunes Plummet
10/6/2009Bruce Pannier writes on Gazprom for RFERL — the analysis contains bits of my interview for the Radio:
It’s been a tough year for Gazprom, Russia’s state-controlled gas giant.
Just a year ago, Russia’s state-owned gas giant Gazprom was the third-most valuable company in the world, worth some $350 billion. Now, it has shrunk by two-thirds to about $120 billion, declining to the world’s 40th-largest company, according to “The Moscow Times” on May 27.
And the company appears set to fall another notch or two, thanks to a ruling by Russian antimonopoly authorities on June 2 that Gazprom must share its export pipelines with independent gas producers.
