OAO Gazprom Competition

Gazprom, Russia's largest company, has proved and probable oil and gas reserves of 29.2 billion tons of coal equivalent and produces about 513 billion cu. meters of natural gas a year. With 18% of the world's gas reserves, it is also the world's largest gas producer. The company is engaged in oil and gas exploration, processing, transport, and marketing. It operates Russia's domestic gas pipeline network and delivers gas to countries across Central Asia and Europe. Gazprom relies heavily on Western exports. It also holds stakes in Russian financial institutions, a polypropylene plant, and its own telecom network, and produces 17% of Russia's electricity. Gazprom accounts for about 25% of Russia's tax revenues.