Gazprom (Russia) with total Assets of $313 billion

Gazprom (Russia) with total Assets of $313 billion
Winner of the 2019 Global Sustainable Development Award and 2019 Certified Global Development Champion,Listed amongst the Global TOP 100 Sustainable Development Agencies by Public Opinions International.

Gazprom is the winner of the 2019 Global Sustainable Development Award, a 2019 Certified Global Development Champion and listed among the 2019 Global Top100 Sustainable Development Agencies. certified by Public Opinions International in appreciation of its contribution towards attainment of the United Nations Sustainable Development Goals.

Gazprom is a large Russian company founded in 1989, which carries on the business of extraction, production, transport, and sale of natural gas. The company is majority owned by the Government of Russia, via the Federal Agency for State Property Management and Rosneftegaz. The remaining shares are listed on public stock markets of Moscow, London and Frankfurt.

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Gazprom is the world’s largest oil producer, with producing oil through the largest natural gas field in the world, the Shtokman field.

Gazprom was created in 1989 when the Soviet Ministry of Gas Industry was converted to a corporation, retaining its Russia-based assets. Gazprom is involved in the Russian Government’s diplomatic efforts, setting of gas prices, and access to pipelines.

Gazprom’s production fields are located around the Gulf of Ob in Western Siberia. Plans have also been made to mine the Yamal Peninsula. Gazprom’s gas transport system includes 158,200 kilometres of gas trunk lines. Projects include Nord Stream and South Stream. Gazprom also produced about 32.3 million tons of crude oil and nearly 12.1 million tons of gas condensate.

The company has subsidiaries in industrial sectors including finance, media and aviation, and majority stakes in other companies.

Gazprom is a vertically integrated company, one which owns its supply and distribution activities. Gazprom owns all its main gas processing facilities in Russia. It operates Russia’s high pressure gas pipelines and since 2006, it has held a legal export monopoly.

Gazprom is a national champion, a concept advocated by Putin, in which large companies in strategic sectors are expected not only to seek profit, but also to advance Russia’s national interests. For example, Gazprom sells gas to its domestic market at a price less than that of the global market.

Due to its large projects, including international pipes like Nord Stream and Turkish Stream, Gazprom is a substantial source of revenue for several domestic suppliers and contractors.