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Gazprom To Overgrow ExxonMobil

Gazprom, which is majority-owned by the Russian state, would need to quadruple its current $251 billion market value to achieve the goal

The Russian gas monopoly Gazprom plans to become the world’s first company with a stock-market value of a trillion dollars.

The company would need to quadruple its current $251 billion market value to achieve the goal. But Alexander Medvedev, deputy chief executive, told The Sunday Times: “It’s not just a nice figure.”

Medvedev dismissed suggestions that the company was a government tool as “absurd”. “The state has a majority stake, but we’re a listed group, with the remaining shares in the hands of private investors,” he said. The state’s controlling interest in Gazprom was in line with the practice in Norway, where the government had retained control of strategic oil and gas assets, he added.