![]() ![]() The company is also involved in the diplomatic efforts of the Russian government including access to pipelines and setting off gas prices. Despite Gazprom being a private company, the government of Russia is the majority stakeholder. The company's name is a Russian word which stands for Gazovaya Promyshlennost meaning gas industry. The company is headquartered in Moscow and is responsible for the extraction, production, transportation, and selling of natural gas. Gazpromįounded in 1989, Gazprom is the largest company in Russia with revenues of $97.6 billion. ![]() Below are the top three largest companies in Russia, Gazprom, Lukoil, and Rosneft all three are oil and gas companies. The country has abundant deposits of precious metals, natural gas, and oil. Russia's natural resources are estimated to be worth around $75 trillion by the World Bank. The country's colossal geography is an important determinant of its economic activity as most sources estimate that Russia comprises of more than 30% of the natural resources in the world. However, there were significant exceptions to the privatization of certain industries such as the defense-related and energy sectors. During the 1990s, a big portion of Russia’s agricultural and industrial sectors were privatized as a result of market reforms. The country boasts of an upper-middle income. Russia comprises of a mixed economy with state ownership in particular sectors of the economy. ![]()
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