He was born in 1941 in Orsk, the Orenburg region.
From 1960 he worked as an operator assistant, then chief engineer, head of the department, deputy director of the Orsk oil refining plant.
In 1973-1985 he was director of the Orenburg gas-condensate deposit management, management of the helium constructing plant, and held various leading positions.
In 1973 he graduated from the All-Union Politechnical institute with the qualification 'industry thermal power engineering' and in 1981 v the Academy of social Sciences.
1985-1989 occupied the posts of the deputy Minister of gas industry, first deputy Minister of gas industry of the USSR.
In 1989-1990 he was deputy chairman of the board, head of the capital construction department of Gasprom.
2000 - 2002 he was Chairman of the Board of Directors of the petrochemical holding SIBUR
1998-2002 he was First Deputy Chairman of the Gazprom´s Board.
Vyacheslav Sheremet was the last and the most important player of the team of the former Gazprom´s Head Rem Vyahirev.