Gazprom

Gazprom PJSC
Native name
ПАО "Газпром"
TypePublic (PAO)
IndustryOil and gas
Founded8 August 1989 (1989-08-08)
Headquarters,
Russia
Key people
ProductsPetroleum
Natural gas
Petrochemicals
ServicesGas pipeline transport
Revenue$87.7 billion[1] (2020)
$8.53 billion[1] (2020)
$2.25 billion[1] (2020)
Total assets$324 billion[1] (2020)
Total equity$205 billion[1] (2020)
OwnerRussian government (50.23%)
Number of employees
466,000[2] (2018)
SubsidiariesList of subsidiaries
Websitegazprom.com

PJSC Gazprom (Russian: Газпром, IPA: [ɡɐsˈprom]) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg.[3] As of 2019, with sales over $120,000,000,000, it was ranked as the largest publicly listed natural gas company in the world and the largest company in Russia by revenue.[4][5] In the 2020 Forbes Global 2000, Gazprom was ranked as the 32nd -largest public company in the world.[6] The Gazprom name is a contraction of the Russian words gazovaya promyshlennost (газовая промышленность, gas industry). In January 2022, Gazprom displaced Sberbank from the first place in the list of the largest companies in Russia by market capitalization.[7]

Gazprom is vertically integrated and is active in every area of the gas industry, including exploration and production, refining, transport, distribution and marketing, and power generation.[8] In 2018, Gazprom produced twelve percent of the global output of natural gas, producing 497.6 billion cubic meters of natural and associated gas and 15.9 million tonnes of gas condensate.[9] Gazprom then exports the gas through pipelines that the company builds and owns across Russia and abroad such as Nord Stream and TurkStream.[10] In the same year, Gazprom has proven reserves of 35.1 trillion cubic meters of gas and 1.6 billion tons of gas condensate.[9] Gazprom is also a large oil producer through its subsidiary Gazprom Neft, producing about 41 million tons of oil with reserves amounting to 2 billion tons.[9] The company also has subsidiaries in industrial sectors including finance, media and aviation, and majority stakes in other companies.

Gazprom was created in 1989, when the Soviet Ministry of Gas Industry was converted to a corporation, becoming the first state-run corporate enterprise in the Soviet Union. After the Soviet Union's dissolution, Gazprom was privatized, retaining its Russia-based assets. At that time, Gazprom evaded taxes and state regulation and engaged in asset stripping. The company later returned to government control in the early 2000s, and since then, the company is involved in the Russian government's diplomatic efforts, setting of gas prices, and access to pipelines.[11]

The company is majority-owned by the Russian government, via the Federal Agency for State Property Management and Rosneftegaz, while remaining shares are traded publicly.[12] Gazprom has a listing in the Moscow Exchange and had a market capitalization of US$80.56 billion as of September 2019.[4]

  1. ^ a b c d e "PJSC Gazprom IFRS Consolidated Financial Statements with Independent Auditor's Report 31 December 2020" (PDF). Gazprom. 29 April 2021. p. 86. Retrieved 29 April 2021.
  2. ^ http://www.gazprom.ru/f/posts/01/851439/gazprom-accounting-report-2018.pdf.
  3. ^ Grant, Peter (6 June 2017). "Gazprom's New Headquarters Towers Over All Others in Europe". The Wall Street Journal. ISSN 0099-9660. Archived from the original on 21 May 2020. Retrieved 23 February 2020.
  4. ^ a b Carpenter, J. William. "The Top Natural Gas Companies in the World". Investopedia. Archived from the original on 11 April 2020. Retrieved 18 February 2020.
  5. ^ "РБК 500: Крупнейшие компании России". РБК. Archived from the original on 16 November 2019. Retrieved 23 February 2020.
  6. ^ "Forbes Global 2000". Forbes. Archived from the original on 23 September 2020. Retrieved 31 October 2020.
  7. ^ "Сбербанк сдал строчку лидера "Газпрому"". expert.ru. Retrieved 10 January 2022.
  8. ^ "Gazprom". Forbes. Archived from the original on 24 April 2020. Retrieved 23 February 2020.
  9. ^ a b c "Operations at Gazprom". gazprom.com. Archived from the original on 4 March 2020. Retrieved 23 February 2020.
  10. ^ "Transmission". gazprom.com. Archived from the original on 8 June 2020. Retrieved 23 February 2020.
  11. ^ Crumley (7 January 2009). "Russia's Gazprom Diplomacy: Turning Off Europe's Heat". Time. Archived from the original on 18 October 2015. Retrieved 25 April 2015.
  12. ^ "Equity capital structure". Gazprom. 2018. Archived from the original on 15 September 2018. Retrieved 15 September 2018.

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