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In 1989 The Ministry of Gas Industry of USSR reorganized in The State gas concern “Gazprom”.

On 5 November, 1992 the Decree of the President of Russia about transformation SGC "Gazprom" in the Russian joint-stock company "Gazprom" is signed.

OJSC(open joint-stock company) "Gazprom" – the largest gas company in the world. The basic directions of activity – geological prospecting, extraction, transportation, storage, processing and realisation of gas and other hydrocarbons. The state is the proprietor of the controlling interest of "Gazprom" – 50,002 %.

It has the richest in the world stocks of natural gas. Its share in world's gas reserves makes 17 %, in Russian – 60 %. Gas stocks of "Gazprom" are estimated in 29,1 bln. cubic m, and their current cost – 138,6 billion dollars. In 2005 the volume growth of explored gas stocks essentially exceeded the volume of its extraction and made 583,4 billion in cubic m.

"Gazprom" has about 20 % of the world and about 90 % of Russian gas production. In 2005 the enterprise of "Gazprom" Group extracted 547,9 billion in cubic m that on 2,8 billion cubic m. higher than the extraction level in 2004.

"Gazprom" posesses the world's largest system of gas transportation– Unified system of gas supply of Russia. Its extent makes 155 thousand km. "Gazprom" Group enterprises serve also 463,4 thousand km (77 %) distributive gas pipelines of the country and provided delivery of 307 billion cubic m. of gas in 79750 settlements of Russia in 2005.

"Gazprom" exports gas to 32 countries of near and far abroad, continues to strengthen the positions in traditional foreign markets. In 2005 the gas sales volume in the European countries made 156,1 billion cubic m, in the CIS and Baltic countries – 76,6 billion cubic m.

There is deduced on a designed capacity gas pipeline "the Blue stream" from Russia to Turkey. Building of gas pipeline "Northern stream" (Nord Stream) has begun, that will allow to raise considerably reliability and flexibility of realisation of gas deliveries on the European market. Preparation for realisation of the Shtokmanovsky deposit development project on the shelf of Barents sea, which becomes a resource base for export of Russian gas to Europe through "Northern stream", is conducted.

The geography of "Gazprom" activity extends. In 2005 the company has accomplished first deliveries of liquefied natural gas to the USA, in 2006 – to Great Britain, Japan and South Korea. "Gazprom"`s joining the project "Sakhalin-2" gives a powerful impulse for end of the mighty project in the field of energy carriers deliveries to ATR countries and North America.

The priority direction of activity is development of gas resources of peninsula Yamal, the Arctic shelf, Eastern Siberia and the Far East.

On the instructions of the Government of the Russian Federation "Gazprom" is the co-ordinator of the activity on realisation of the Program of creation the unified system of extraction, transportation of gas and gas supply in Eastern Siberia and in the Far East, taking into account possible export of gas to markets of China and other ATR countries (East program).

In the east of Russia the gas-processing and gas-chemical industry will be created, which development will allow to use rationally considerable stocks of helium and other valuable components containing in the East Siberian gas.

The acquisition of "Sibneft" allowed the company to become one of the most influential players in the oil market of Russia.

The electric power industry also is profile direction for "Gazprom" activity, which connection with gas business is the universal tendency and allows to provide considerable synergetic effect. In February, 2007 "Gazprom" and "the Siberian coal power company" ("SCPC") signed the Report on intentions, according to which they intend to create the joint company on the basis of electro power and coal actives, they have. The new company should become one of leaders of the Russian electric power industry and take leading positions in world power and coal-mining branch.

The largest socially focused project of "Gazprom" is "the Program of gasification of Russian Federation regions for 2005-2007", which priority is countryside gasification. It will be invested 43 billion rbl. into building of gasification objects during this period. As a result of Program realization, over 11 million citizens of the country begin to use natural gas.

The creation of affiliated societies by activity kinds, such as underground storage of gas, underground repair, processing of hydrocarbons, an oil recovery has begun.

In 2005 the price of shares of the company grew more than in 2,5 times. The strategic goal of "Gazprom" – to winning of leading positions in the global power market, growth of authority and company influence in the world community, securing of long-term growth of its cost.