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56-412: The bridge was constructed by Gazprom in a harsh environment including the need to build on permafrost, which required an innovative approach to the construction technique and bridge design. The bridge has to be much longer than the river width, because on permafrost, the water from melting snow does not sink into the ground, so the spring flows get quite strong. In accordance with information provided by

112-570: A bond issue of US$ 2.5 billion. Chernomyrdin, as Prime Minister of Russia , ensured Gazprom avoided tight state regulation. Gazprom evaded taxes, and the Government of Russia received little in dividends . Gazprom managers and board members, such as Chernomyrdin and the Gazprom Chief Executive Officer , Rem Viakhirev , engaged in asset-stripping . Gazprom assets were shared amongst their relatives. Itera ,

168-649: A monopoly in the gas sector. In December 1992, when Boris Yeltsin , the Russian President , appointed Viktor Chernomyrdin , Gazprom's Chairman, his Prime Minister , the company's political influence increased. Rem Viakhirev took the chairmanship of Gazprom's Board of Directors and Managing Committee. Following the Decree of the President of the Russian Federation of 5 November 1992, and

224-538: A 3.8% increase from the 2011 figure which represented 18.4% of the world's reserves. In 2015, the reserves of crude oil were 1.355 billion tons and the reserves of gas condensate were 933.3 billion tons. 59.8 percent of Gazprom's natural gas reserves (Categories A+B+C1) were located in the Urals Federal District (decreasing), 20.5 percent in the Arctic shelf (increasing), and 8.3 percent in

280-643: A 41.4 GW capacity. The UGSS is the largest gas transmission system in the world. In 2008, the transportation system carried 714.3 billion cubic metres (25.23 trillion cubic feet) of gas. Gazprom has claimed the UGSS has reached its capacity. Major transmission projects include the Nord Stream pipelines as well as pipelines inside Russia. In 2021 Russia had two large liquefied natural gas (LNG) production plants, Yamal LNG and Sakhalin-2 LNG both of which Gazprom has an interest in. In March 2021,

336-542: A conversion of 26,4 m per million Btu it would correspond to a price of $ 285 per 1,000 cubic metres . At the same time, based on their respective contracts with Gazprom, German customers paid $ 250 per cubic metre (m ), Polish customers $ 290 per m , Ukraine customers $ 130 per m and Russian customers $ 49 per m . Since the start of the Russian invasion of Ukraine in February 2022 and as a result of falling export revenue,

392-546: A gas trading company also received Gazprom assets. In March 1998, for reasons unrelated to his activities at Gazprom, Chernomyrdin was fired by Yeltsin. On 30 June 1998, Chernomyrdin was made Chairman of the Board of Directors of Gazprom. When, in June 2000, Vladimir Putin became the President of Russia, he acted to gain control over Russia's oligarchs , and increase the Government of Russia's control in important companies through

448-609: A joint company Shtokman Development AG for development of the field. On 8 April 2013, in Amsterdam, Alexey Miller , chairman of the Gazprom management committee, and Jorma Ollila , chairman of the board of directors of Royal Dutch Shell , signed in the presence of Putin and Mark Rutte , prime minister of the Netherlands , a memorandum outlining the principles of cooperation within hydrocarbons exploration and development in

504-470: A north fork to Hungary. On 18 December 2007, Frank-Walter Steinmeier (who was then Foreign Minister of Germany) and Dmitry Medvedev signed an agreement on behalf of BASF to exploit another gas field. At the time, German demand was 40% covered by Russian supply. Some German academics warned that Germany had become too dependent of Russia but Steinmeier, citing the new Ostpolitik , disregarded them. On 11 February 2008 Kuprianov threatened Ukraine with

560-603: A program of national champions . Putin fired Chernomyrdin from his position as the Chairman of the Gazprom board. The Russian Government's stock in Gazprom gave Putin the power to vote out Viakhirev. Chernomyrdin and Viakhirev were replaced by Dmitry Medvedev and Alexei Miller . They were Putin's prior employees in Saint Petersburg . Putin's actions were aided by the shareholder activism of Hermitage Capital Management Chief Executive Officer William Browder , and

616-560: A state-owned company. Some analysts said the amount paid by Rosneftegaz for the stock was too low. The sale was completed by 25 December 2005. With the purchased stock and the thirty-eight percent share held by the State Property Committee, the Government of Russia gained control of Gazprom. The Government of Russia revoked the Gazprom twenty percent foreign ownership rule and the company became open to foreign investment. In September 2005, Gazprom bought 72.633 percent of

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672-701: A stoppage of flow; in January 2009 the threat was executed, beginning the 2009 Russia–Ukraine gas dispute . BASF's Jürgen Hambrecht was concerned about the reliability of his firm's supply but Miller assuaged his worries in a phone call, and the Europeans did nothing to change course for more than a decade. On 1 December 2014, during a visit to Turkey , Putin said the SouthStream project would not proceed and 63 billion cubic metres per year (bcm/y) of gas would be shipped to Turkey instead of Bulgaria . Bulgaria

728-574: A subsidiary of BP plc , agreed to sell its stake in Kovykta field in Siberia to Gazprom after the Government of Russia questioned BP's right to export gas from Russia. On 1 August 2007, Gazprom's Sergey Kuprianov threatened Belarus with stoppage of their gas flow if the latter failed to pay off their debts and if so they would experience a 300% price increase. Two days later he saw significant progress towards payment and he expected to be paid by

784-423: A trading loss and the need to increase the price in the domestic market by 34% over 3 years. Gazprom has also opened itself up to compensation claims for failure to supply gas under long term contracts. In 2011, Gazprom produced 513.17 billion cubic metres (18.122 trillion cubic feet) of natural gas, which was 17 percent of the worldwide production and 83 percent of Russian production. Of this amount,

840-673: Is Russia's honorary consul in Verona, a former Italian communist and a close associate of both Alexey Anatolievich Matveev ( Russian : Алексей Анатольевич Матвеев ; born 21 December 1963) and Vladimir Putin, Italy's gas supplied by Russia had greatly increased from 25 percent in 2004 to 70 percent. In May 2006, the European Union received about 25 percent of its gas supply from Gazprom. In 2006, Gazprom entered several long term gas contracts with European companies. The contract prices were mainly linked to oil prices. In 2014, Europe

896-413: Is active in every area of the gas industry, including exploration and production , refining , transport , distribution and marketing , and power generation . 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 . Gazprom then exports the gas through pipelines that

952-440: Is made up of 107 standard spans, each measuring 34.2 meters in length, along with 2 through trusses that are 110 meters long. These spans and trusses are supported by 110 bridge arms, which are constructed using metal pipes ranging from 1.2 to 2.4 meters in diameter and filled with reinforced concrete. In order to ensure the stability of the pillars in the permafrost, holes were drilled to depths of 20 to 40 meters. The total weight of

1008-812: The Arctic shelf and a section of the deep-water shelf. In 2008, Gazprom carried out 284.9 kilometres (177.0 mi) of explorative well drilling; 124,000 kilometres (77,000 mi) of 2D seismic and 6,600 square kilometres (2,500 sq mi) of 3D seismic survey. As a result, gas reserves grew by 583.4 billion cubic metres (20.60 trillion cubic feet), and crude oil and gas condensate reserves grew by 61 million tons. Gazprom carries out prospecting and exploration in foreign countries such as India , Pakistan , Algeria , Venezuela , Vietnam , Libya , Kazakhstan , Uzbekistan , Kyrgyzstan and Tajikistan . Gazprom's Unified Gas Supply System (UGSS) includes 158,200 kilometres (98,300 mi) of gas trunklines and branches and 218 compressor stations with

1064-559: The Baltic Sea for sea transportation westward. It would process ethane -containing natural gas with a capacity of 13 million tons of LNG per year. In 2024, Gazprom faced a significant shortage of LNG tankers, leading the company to use the Marshal Vasilevskiy floating storage and regasification unit (FSRU) for exporting LNG from its Portovaya facility. This shortage occurred because Gazprom's regular tankers, such as

1120-741: The Black Sea . In 1997, the Blue Stream Pipeline agreement between Turkey and Russia was signed. In 2000, the first joint was welded. The pipeline has transported 16 billion cubic meters each year. Exploration of the Yamal peninsula has found reserves of over 10 trillion cubic metres of natural gas and over 500 million tons of oil and gas condensate. About 60 percent of these reserves are located in Bovanenkovo , Kharasavey and Novoportovo. The natural gas production capacity of

1176-591: The China National Petroleum Corporation made a contract worth $ 400 billion over thirty years. The contract was for Gazprom to deliver 38 billion cubic meters of natural gas per year to China beginning in 2018. In August 2014, construction began with pipes for the Power of Siberia pipeline delivered to Lensk, Yakutia. Russia will start supplying natural gas to China through the Power of Siberia pipeline on 20 December 2019 as part of

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1232-593: The Lakhta Center in Saint Petersburg. 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 company in Russia by market capitalization. In 2022, the company's revenue amounted to 8 trillion rubles. Gazprom is vertically integrated and

1288-584: The Nord Stream 2 contracts were signed, and by July 2021 the pipeline was commissioned. Following the Russian invasion of Ukraine in February 2022, the threat by Russia of reducing the supply of gas to Europe risked the Gazprom export market. When it was implemented, exports by Gazprom fell from the 185Bcm achieved in 2021 to 100Bcm in 2022 and fell again in 2023. The revenue of Gazprom, whilst initially supported by high prices collapsed in 2023 resulting in

1344-521: The Resolution of the Government of Russia of 17 February 1993, Gazprom became a joint-stock company . Gazprom began to distribute shares under the voucher method . (Each Russian citizen received vouchers to purchase shares of formerly state-owned companies). By 1994, 33% of Gazprom's shares had been bought by 747,000 members of the public, mostly in exchange for vouchers. Fifteen percent of

1400-611: The Russia-Ukraine gas dispute , Gazprom ceased the supply of gas to the Ukrainian market. Gazprom called on the government of Ukraine to increase its payment for natural gas in line with increases in global fuel prices. During the night of 3 January 2006, and early morning of 4 January 2006, Naftogas of Ukraine and Gazprom negotiated a deal that temporarily resolved the long-standing gas price conflict between Russia and Ukraine. On 3 April 2006, Gazprom announced it would triple

1456-628: The Southern Federal District and North Caucasus Federal District . Gazprom has invested about 480 billion rubles ($ 20 billion) in new major projects in order to maintain supply. Nearly 37 percent of Gazprom's reserves are located in the Yamal Peninsula and in the Barents Sea . One of Gazprom's major projects is the Blue Stream Pipeline. The Blue Stream Pipeline delivers natural gas to Turkey via

1512-742: The Yamburg subsidiary produced 41 percent, Urengoy 23.6 percent, Nadym 10.9 percent, Noyabrsk 9.3 percent and others 15.2 percent. In addition, the company produced 32.28 million tons of oil and 12.07 million tons of gas condensate. The majority of Gazprom's fields are located in the Nadym-Pur-Taz region (near the Gulf of Ob ) in Yamalo-Nenets Autonomous Okrug in Western Siberia . Historically,

1568-516: The Baltic states. Gazprom received about 60 percent of its revenue from its sales to European customers. In 2008, the average gas price paid by Russian industrial customers was $ 71/mcm, while households paid $ 54/mcm. Since 2000, Natural gas prices have fluctuated. In late 2007, the price of natural gas at the New York NYMEX was $ 7.53 per million British thermal units ($ 25.7/ MWh ). At

1624-468: The Bovanenkovo field was estimated to be 115 billion cubic metres per annum (4.1 trillion cubic feet per annum), with potential to increase to 140 billion cubic metres per annum (4.9 trillion cubic feet per annum). The Shtokman field is one of the world's largest natural gas fields. It is located in the central part of the Barents Sea , 650 kilometres (400 mi) northeast of

1680-544: The Chinese to build the remaining pipeline. In January 2023, as a result of the sanctions imposed on Russia (as a result of the invasion of Ukraine in 2022), Gazprom announced its exports of gas fell 45% from 185Bcm to 101Bcm, mainly due to the loss of the European market. During 2023 exports fell again, with Europe purchasing just 28Bcm, a level not seen since the 1970's. On 1 January 2006, at 10:00 (Moscow time), during

1736-946: The Gazprom Neft shares for $ 13.1 billion. Gazprom's ability to supply natural gas to domestic market and for reexport has relied to a large extent on imports from Central Asia . In 2007, Gazprom imported a total of 60.7 billion cubic metres (2.14 trillion cubic feet) from Central Asia: 42.6 billion cubic metres (1.50 trillion cubic feet) from Turkmenistan , 8.5 billion cubic metres (300 billion cubic feet) from Kazakhstan , and 9.6 billion cubic metres (340 billion cubic feet) from Uzbekistan . In particular, Gazprom purchased seventy-five percent of Turkmenistan gas exports in order to supply gas to Ukraine . In 2008, Gazprom paid $ 130/mcm to $ 180/mcm for gas from Central Asia. In 2015, Gazprom's proved and probable reserves of natural gas were 23.705 trillion cubic metres (837.1 trillion cubic feet),

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1792-539: The Pskov, were involved in extended voyages to Asia, avoiding the Suez Canal and Red Sea due to security threats from Houthi attacks . In 2006, Gazprom sold 316 billion cubic metres (11.2 trillion cubic feet) of gas to domestic customers; 162 billion cubic metres (5.7 trillion cubic feet) to the rest of Europe; and 101 billion cubic metres (3.6 trillion cubic feet) to CIS countries and

1848-497: The Russian Government authorised a long-term programme to develop and expand the liquefied natural gas industry in Russia with nine more LNG plants, to address the growing global LNG market. In August 2021 Russia's first LNG bunkering vessel, Dmitry Mendeleev , was completed for Gazprom. In October 2021, Gazprom and RusGazDobycha announced they would build a new plant, Baltic LNG , at Ust-Luga , with access to

1904-468: The bridge exceeds 30,000 tons and it is designed to have a service life of 100 years. This Russian rail transport related article is a stub . You can help Misplaced Pages by expanding it . This article about a bridge in Russia is a stub . You can help Misplaced Pages by expanding it . Gazprom PJSC Gazprom (Russian: Газпром , IPA: [ɡɐsˈprom] ) is a Russian majority state-owned multinational energy corporation headquartered in

1960-565: The city of Murmansk and 1,000 kilometres (620 mi) west of the Yamal Peninsula. The field is estimated to contain up to 3.7 trillion cubic metres (130 trillion cubic feet) of gas. Potential production is 71 billion cubic metres per annum (2.5 trillion cubic feet per annum) in the initial phases, with a potential increase to 95 billion cubic metres per annum (3.4 trillion cubic feet per annum). Gazprom, TotalEnergies (France) and Statoil (Norway) created

2016-537: The company builds and owns across Russia and abroad, such as Nord Stream 1 and TurkStream . In the same year, Gazprom has proven reserves of 35.1 trillion cubic meters of gas and 1.6 billion tons of gas condensate. 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. The company also has subsidiaries in industrial sectors, including finance , media and aviation , and majority stakes in other companies. Gazprom

2072-456: The contract, Russia was to supply 38 billion cubic meters of gas annually over 30 years at a cost of $ 350 per thousand cubic meters beginning in 2018. In 2013, the average price of Gazprom's gas in Europe was about $ 380 per thousand cubic meters. China offered a loan of about $ 50bn to finance development of the gas fields and the construction of the pipeline by Russia up to the Chinese border, with

2128-419: The distinguished presidential envoy in the Urals Federal District , Nikolai Vinnichenko, the esteemed Governor of Yamal , Jury Neyolov, as well as the accomplished CEO of Gazpromtrans, Vyacheslav Tyurin . The completion of the bridge was a crucial step in the construction of the railway to the Bovanenkovo and marked the beginning of development at the Bovanenkovo oil and gas condensate field. The bridge itself

2184-399: The domestic market will see price rises of 34% by July 2025. Gazprom delivered gas to 25 European countries. Its main export arm is Gazprom Export LLC, founded in 1973 and before 1 November 2006 known as Gazexport, which has a monopoly on gas exports to countries outside of the former Soviet Union. The majority of Russian gas in Europe is sold on 25-year contracts. In late 2004, Gazprom

2240-727: The early 2000s, and since then, the company has been involved in the Russian government's diplomatic efforts, setting of gas prices, and access to pipelines. The company is majority-owned by the Russian government , via the Federal Agency for State Property Management and Rosneftegaz , while the remaining shares are traded publicly. Gazprom, listed on the Moscow Exchange, had a market capitalization of RUB3.94T (US$ 44.96 billion) in March 2000, which increased to US$ 80.56 billion by September 2019. In 1943, during World War II ,

2296-534: The families of sailors who died during the Kursk submarine disaster and additional criticism of Putin's handling of the Second Chechen War . Gusinsky then fled Russia which Gazprom taking over NTV. In June 2005, Gazprombank , Gazpromivest Holding, Gazfond and Gazprom Finance B. V., subsidiaries of Gazprom, sold a 10.7399% share of their stock for $ 7 billion to Rosneftegaz  [ ru ] ,

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2352-650: The former Russian Finance Minister Boris Fyodorov . Miller and Medvedev were to stop asset stripping at Gazprom and to recover losses. Itera was denied access to Gazprom's pipelines and came close to bankruptcy . In 2006, Itera agreed to return stolen assets to Gazprom for a fee. Browder was deported from Russia, in 2005, and the Russian arm of Hermitage Capital Management was seized two years later. In April 2001, Gazprom acquired NTV , Russia's only nationwide state-independent television station, from Vladimir Gusinsky 's company, Media-Most Holdings. Gusinsky fell out of Putin's favor after using NTV to publish criticism from

2408-692: The government of the Soviet Union developed a domestic gas industry. In 1965, it centralized gas exploration , development, and distribution within the Ministry of Gas Industry. In the 1970s and 1980s, the Ministry of Gas Industry found large natural gas reserves in Siberia , the Ural region and the Volga Region . The Soviet Union became a major gas producer. In August 1989, under the leadership of

2464-424: The media, the construction of the bridge was successfully accomplished within a remarkably brief timeframe of 349 days, an impressive feat considering the complexity and magnitude of such structural endeavors. The completion of this remarkable project was marked in the month of April in the year 2009, and on the momentous date of June 4, 2009, the bridge witnessed its inaugural passage of esteemed individuals, including

2520-639: The minister of Gas Industry of the Soviet Union (1985-1989) Viktor Chernomyrdin , the Ministry of Gas Industry was renamed the State Gas Concern Gazprom , and became the Soviet Union's first state-run corporate enterprise. In late 1991, when the Soviet Union dissolved , gas industry assets were transferred to newly established national companies, such as Naftogaz and Turkmengaz . Gazprom kept assets located in Russia and secured

2576-666: The new price levels. Soviet Ministry of Gas Industry The Ministry of the Gas Industry ( Mingazprom ; Russian : Министерство газовой промышленности СССР ) was a government ministry in the Soviet Union responsible for the Soviet oil industry and related sectors. It was created in 1957 as the Main Administration for the Gas Industry; renamed State Production Committee for the Gas Industry in 1963. It received its ministerial title in 1965. In 1989 Gazprom

2632-410: The next week. On 23 June 2007, the governments of Russia and Italy signed a memorandum of understanding towards a joint venture between Gazprom and Eni SpA to construct a 558-mile (900 km) gas pipeline to carry 1.05 trillion cubic feet (30 km ) gas per year from Russia to Europe. This South Stream pipeline would extend under the Black Sea to Bulgaria with a south fork to Italy and

2688-754: The oil company Sibneft for $ 13.01 billion. Sibneft was renamed Gazprom Neft . The purchase was aided by a $ 12 billion loan. Gazprom became Russia's largest company. On the day of the deal the company worth was valued at £ 69.7 billion (US$ 123.2 billion). In July 2006, On Gas Export was enacted with nearly unanimous vote from the State Duma . This law gave Gazprom the exclusive right to export natural gas from Russia. In December 2006, Gazprom signed an agreement with Royal Dutch Shell , Mitsui and Mitsubishi , to take over fifty percent plus one share of Sakhalin Energy . In June 2007, TNK-BP ,

2744-578: The price of natural gas to Belarus after 31 December 2006. In December 2006, Gazprom threatened to cease supply of gas to Belarus at 10 am Moscow time on 1 January 2007, unless Belarus increased payments from $ 47 to $ 200 per 1,000 cubic metres or to cede control over its distribution network. Some analysts suggested Moscow was penalising Alexander Lukashenko , the President of Belarus, for not delivering on pledges of closer integration with Russia , while others noted that other countries like Armenia were paying as much for their gas as Belarus would with

2800-404: The stock was allocated to Gazprom employees. The state retained 40% of the shares. That amount was gradually lowered to thirty-eight percent. Trading of Gazprom's shares was heavily regulated. Foreigners were prohibited from owning more than nine-percent of the shares. In October 1996, 1% of Gazprom's equity was offered for sale to foreigners as Global Depository Receipts . In 1997, Gazprom offered

2856-572: The three largest fields are Medvezhe, Urengoy and Yamburg . After more than twenty years of production, the fields are now in decline. Production from the fields has decreased by twenty to twenty-five bcm per year. The production at Zaporliarnoe , Gazprom's fourth largest field, increased until 2004, offsetting the decline in the other fields. Since 2004, Gazprom has maintained production by activating new smaller fields and by purchasing production assets from other companies. Gazprom Neft produces crude oil. In 2005, Gazprom purchased 75 percent of

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2912-583: The two countries' $ 400 billion energy pact. Beijing and Moscow are now negotiating over a second Far Eastern gas pipeline. In June 2014, Gazprom negotiated with the International Petroleum Investment Company (IPIC of Abu Dhabi ) over a 24.9 percent stake in the Austrian oil and gas firm OMV . In July 2014, Gazprom acquired Central Partnership , one of the largest film distributors in Russia. In September 2015

2968-829: Was being sued by the European Union for signing a contract with Russia, which was not aligned with European Union regulations. The president of Bulgaria, Rosen Plevneliev , pressured the European Union and Russia to quickly resolve the matter. On 4 September 2012, the European Commission announced an anti-trust investigation into Gazprom's activities. This was based on "concerns that Gazprom may be abusing its dominant market position in upstream gas supply markets." In late November 2013, Gazprom expanded its media interests by acquiring Profmedia from Vladimir Potanin . On 21 May 2014, in Shanghai , Gazprom and

3024-476: 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 regulations and engaged in asset stripping . The company later returned to government control in

3080-586: Was the sole gas supplier to Bosnia and Herzegovina, Estonia, Finland, Macedonia, Latvia, Lithuania, Moldova, Serbia and Slovakia. It provided 97 percent of Bulgaria's gas, 89 percent of Hungary's gas, 86 percent of Poland's gas, nearly 75 percent of the Czech Republic's, 67 percent of Turkey's, 65 percent of Austria's, about 40 percent of Romania's, 36 percent of Germany's, 27 percent of Italy's, and 25 percent of France's gas. By December 2010 with strong support from Alexander Medvedev and Antonio Fallico, who

3136-534: Was the source of 40% of Gazprom's revenue. The proportion of Europe's gas bought in the spot market rose from 15 percent in 2008 to 44 percent in 2012. In September 2013, during the G20 summit, Gazprom signed an agreement with CNPC that the Henry Hub index would not be used to settle prices for their trades. On 21 May 2014, Putin met with Xi Jinping and negotiated a $ 400bn deal between Gazprom and CNPC. Under

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