PJSC Gazprom (ПАО «Газпром») is a majority state-owned Russian multinational energy corporation headquartered at the Lakhta Center in Saint Petersburg. The company name is a contraction of the Russian words gazovaya promyshlennost (газовая промышленность), meaning "gas industry".
Core Activities
Gazprom is a vertically integrated energy company whose major business lines span the full hydrocarbon value chain:
- Exploration & production of natural gas, gas condensate, and crude oil
- Transportation via its Unified Gas Supply System (UGSS) — 158,200 km of gas trunklines, the world's largest gas transmission network
- Processing at major gas processing plants (Astrakhan, Orenburg, Sosnogorsk, and others)
- Storage, distribution, and marketing of gas and refined products
- Power generation (heat and electric power)
Scale & Reserves
Gazprom holds the largest proven gas reserves in the world, totalling 35.1 trillion cubic meters of gas and 1.6 billion tonnes of gas condensate as of 2023. In 2023, the company produced 359 billion cubic meters of natural gas. Through its subsidiary Gazprom Neft, it is also a significant oil producer, with approximately 41 million tonnes of oil per year.
Ownership & Structure
The Russian government holds a majority stake via the Federal Agency for State Property Management and Rosneftegaz, with the remaining shares publicly traded on the Moscow Exchange. Gazprom holds a legal export monopoly on Russian natural gas, established by the 2006 On Gas Export law. Key subsidiaries span gas processing, oil production, finance, media, and aviation.
History
Gazprom was established in 1989 when the Soviet government converted the USSR Ministry of Gas Industry into the first state-run corporate enterprise in Soviet history. Following the dissolution of the Soviet Union in 1991, it retained all Russia-based assets and was privatized, before returning to effective government control in the early 2000s under President Putin.
Key Infrastructure
Notable pipeline projects include Power of Siberia (supplying China under a 30-year, $400 billion contract signed in 2014), TurkStream, Nord Stream, and Blue Stream. The Amur Gas Processing Plant near Svobodny — launched in stages from June 2021 — is one of Gazprom's flagship processing facilities, designed to handle 42 bcm/yr of gas from the Power of Siberia corridor.
