Alexey Miller: Contemporary business undergoes rapid globalization and is run far beyond industry and national market boundaries. Two years ago Gazprom decided therefore to start creating a global energy company. It wouldn"t be an exaggeration to say nowadays that the process of Gazprom"s conversion from the "national champion" into a global energy business leader has been completed. Over a six-year period the Company"s capitalization grew 25fold exceeding USD 270 bln by the end of last year.
Not only do we develop a unique resource base, build up production potential and invest considerable funds in the pipeline system modernization, but we also conquer new sales markets, diversify energy transportation routes as well as develop new types of business - are active in entering into the power industry, oil business and in developing the entire hydrocarbon processing chain. Furthermore, Gazprom is becoming a prominent player on the LNG market. This implies actively expanding business types and regions of operation as well as achieving an additional reduction of risks.
Gazprom"s operating results for the last years are a vivid demonstration of its efficiency as a global competitor. It is sufficient to recall in this context that we are already ranked second among the global energy businesses. Moreover, we will continue progressing. Specifically due to a prompt development of Gazprom"s business in recent years we have probably a keener sense than our colleagues and partners of the disaccord between the existing "rules of the game" in the energy sector and present-day challenges facing the global economy.
