page_title: Gazprom
section_title: Continual rise
hierarchical_section_title: Gazprom / History / Continual rise
caption_attribution_description: English: YUZHNO-SAKHALINSK. At the ceremony marking the opening of a liquefied natural gas production plant built as part of the Sakhalin-2 project. The directors of the companies that are shareholders in the project: Chief Executive Officer of Shell Jeroen van der Veer, Chairman of the Management Committee of Gazprom Alexei Miller, President of Mitsui Shoei Utsuda, and President of Mitsubishi Yorihiko Kojima.Русский: ЮЖНО-САХАЛИНСК. На церемонии открытия завода по производству сжиженного природного газа, построенного в рамках проекта «Сахалин-2». Руководители компаний – акционеров проекта: главный исполнительный директор компании «Шелл» Йерун Ван дер Вир, председатель правления компании «Газпром» Алексей Миллер, президент компании «Мицуи» Сёэй Уцуда и президент компании «Мицубиси» Ёрихико Кодзима.
context_page_description: PJSC Gazprom is a partially state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg, Russia. As of 2019, with sales over USD$120 billion, it sits as the largest publicly-listed natural gas company in the world and the largest company in Russia by revenue. In the 2019 Forbes Global 2000, Gazprom was ranked as the 40th largest company in the world. Gazprom name is a portmanteau of the Russian words Gazovaya Promyshlennost.
  Gazprom is vertically integrated and 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 the company builds and owns across Russia and abroad such as Nord Stream 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.
context_section_description: 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 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 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.
caption: The ceremony marking the opening of a LNG production plant built as part of the Sakhalin-II project.
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