Gazprom's shareholder structure
Gazprom is held largely by two entities, the Russian Federation and the Bank of New York Mellon, which accounted for 50.23 percent and 25.2 percent, respectively. In 1989, the Soviet Ministry of Gas Industry was converted into Gazprom, a corporation. Later, the company was privatized with the Russian government holding a majority. Currently, Gazprom’s headquarters are located in Moscow. The company has grown, increasing its total employee numbers from 393,600 in 2009 to 459,600 in 2014
Gazprom owns some 23 billion cubic meters of natural gas reserves in Russia and accounts for 69 percent of Russia’s gas production. The company is the largest extractor of natural gas in the world. Russia and the United States are some of the largest producers of natural gas in the world. Gazprom generated 119.91 billion U.S. dollars in net revenues globally in 2013.
Europe is Gazprom’s largest customer base, however, the European Commission has issued an anti-trust case against the company, stating that Gazprom may be “abusing its dominant market position in upstream gas supply markets.” Germany and Turkey are among the company’s largest customers, purchasing 40 billion cubic meters and 27 billion cubic meters in gas, respectively, in 2014.