Putin: We Have no Plans to Sell Gazprom Yet
Perhaps no organization outlines the strengths and weaknesses of Vladimir Putin’s Russia better than Gazprom PJSC, the giant energy exporter that emerged from the Soviet Union’s gas ministry. The company employs over 400,000, holds the world’s biggest gas reserves and generated more than a $1 trillion in revenue in the past decade. Yet, over the same period its stock-market value crashed more than 80 percent in dollar terms as the state-run company was wrong-footed by the rise of shale gas in the U.S., economic stagnation in its largest European customers and the crash in oil prices. The Russian president sat down with Bloomberg News Editor-in-Chief John Micklethwait for an exclusive interview in Vladivostok, Russia, ahead of the annual G-20 summit in Hangzhou.