"We have witnessed how Gazprom developed from a Russian company with limited foreign equity into a global transnational corporation with Russian roots. In the coming years Gazprom will be not just a major company in the world, but the most influential in the energy business."Miller also spoke to the paper about Gazprom's ambitious plans of expansion in the Americas, Asia, Europe and Africa. "We see North America as a region of our strategic interests. … We are creating a new configuration of gas supplies to North America."
Gazprom plans to serve the North American market from 2014 with liquefied natural gas from its giant Shtokman field on Russia's north coast. It also aims to take part in a proposed Alaska gas pipeline. In addition to these, it is considering deals with Nigeria and Vietnam and just proposed to Europe opening a chain of filling stations using natural gas as an alternative car fuel across the continent.
The ambitions and plans to expand and consolidate as they are, Gazprom might move to the number one position in the league of biggest companies in the world within seven to eight years, as suggested by Miller two weeks ago.
In fact, in terms of market capitalization Gazprom is now the world's third largest company, as shown in a global study carried out by the respected Japanese Nomura Securities investment corporation. Its results were published in Tokyo last Monday.
The study showed that the total market cost of Gazprom floated shares had reached $341.8 billion by June 13. This is $8.3 billion more than last year, when Gazprom was only seventh-largest in the world.
The first two places in the league are also held by oil and gas corporations. The US's ExxonMobil, which had pushed to second place the Chinese PetroChina company, is now in the lead with $466.8 billion. Here it is worth mentioning that the capitalization of both companies had decreased last year by $52.8 billion and $345.1 billion, respectively, due to the general downturn of stock markets in the US and China.
Market analysts note that, as seen against the background of growing energy indicators on the one hand, and the destabilization of the world financial system on the other, it is precisely the energy sector that holds first place in the market capitalization rating of companies, whereas some leading financial and technology giants are on the downgrade compared to it.
Particularly interesting and significant in this respect are the results, achieved by Gazprom and Petrobras Oil Corporation with its $275.1 billion. Petrobras has moved up from 12th to fifth place and is now somewhere in-between the US's General Electric with $291 billion and Microsoft's $272.5 billion. The two, as a matter of fact, had ranked first and second in the world as regards capitalization in 2002, but the growing energy concerns over the last six years changed the picture, particularly with regards to Gazprom.
Now we have an ambitious and expanding Gazprom in third place, aiming for the top. Can it achieve its aim? Why not?
