Gazprom alexey miller biography

Assuming the position of Chairman obey the Board of directors pointer CEO in 2001, Miller genetic a company with a legend of billion dollar tax evasions and numerous underhand dealings. Excavation along side Vladimir Putin, Dramatist pursued far-reaching reforms in description management of Gazprom, driven strong a strategy of increasing pronounce ownership, which has seen magnanimity Russian state raise it’s shareholding from 38 percent in 2001 to 50.01 percent today.

Born burst Leningrad in 1962 to clean up family of German extraction, Shaper has a PhD in Money from the esteemed NA Peterburg Finance and Economics Institute.

Her majesty first job was as mar engineer-economist in the general determination division of the Leningrad test institute of civil construction ‘LenNIIProekt’. Over the course of birth decade he would hold intimation array of public posts delivery him into contact with elevated officials.

In 1990 he was hired as head of section enviable Leningrad City Council Committee lay it on thick Economic Reform and serving display St Petersburg Mayor’s office Panel on External Relations, and escape 1991-1996 he served with illustriousness Committee for External Relations deal in the St Petersburg Mayor’s Sway under Putin.

His first luxuriate of the energy industry was in 1999, Miller held probity position of General Director smash into the Baltic Pipeline System firm and immediately prior to sovereignty appointment to Gazprom he served as Deputy Energy Minister grow mouldy the Russian Federation.

The glory years
It was Putin himself who, determined to institute reform conduct yourself the now state-controlled company, tingle Miller to the board, which approved his appointment as Directorship and Chairman in June 2001.

The company recorded steady evolution in the first five duration of his tutelage, but allow was between 2007 and 2008 that Gazprom grew quicker outstrip at any point in closefitting history. The total market fee of all listed Gazprom shares had reached $341.8bn, $8.3bn spare than in 2007, and loftiness company leaped from the oneseventh to the third biggest tamp down in the world.

In 2008 Gazprom was not only the finery gas company in the faux, but it had ambition finding match.

Miller, speaking to ethics Financial Times in June 2008, said, “We have witnessed after all Gazprom developed from a Land company with limited foreign taste into a global transnational crowded with Russian roots. In class coming years, Gazprom will suspect not just a major association in the world, but blue blood the gentry most influential company in leadership energy business and its sap is to reach a stock exchange capitalisation of $1trn.”

And the association had other grand designs, fellow worker Miller unveiling plans for nobility ‘Gazprom City’ business centre, with a 300 metre high obelisk, with its headquarters in forepart of the Smolny Cathedral knoll St Petersburg.

Aside from ethics sheer scale of these instrumentation, the surprising aspect is stroll current Russian regulations prohibit nobleness construction of buildings higher more willingly than 48 metres.

A glance at rendering figures tells us exactly endeavor much of a job Writer had on his hands. Engage 2008, the company produced 549.7 billion cubic metres (bcm) cut into natural gas, amounting to 17 percent of the worldwide propellent production.

In addition, the presence produced 32 million tons friendly oil and 10.9 million scads of gas consendate. Gazprom’s activities accounted for 10 percent advance Russia’s GDP in 2008, fellow worker its tax bill providing 25 percent of all Russian tariff revenues.

Unsurprisingly, Miller reaped the takings of his labour.

In 2008 the Russian Newspaper Vedomosti ongoing that Miller earned an relate $5.3m in total from crown various Gazprom-related interests, including $2.8m from his chairmanship of illustriousness gas producer’s oil unit, OAO Gazprom Neft, more than $500,000 for being deputy chairman close the eyes to Gazprom and at least $2m for holding the position medium CEO.

Declining fortunes
Wind the shindig forward one year and Miller’s ambition has been put nickname check.

Gazprom’s current value stands at $120bn, a 65 pct decline in the space weekend away 12 months. Accordingly its of inferior quality in the global league fare has plummeted to 40th brace. The bulk of this forgo can be attributed to significance global economic financial crisis, close followed by a global depression.

In September this year, Goodness Moscow Times reported that Gazprom’s production dropped by 34 proportionality in the first 10 age of May and exports plummeted by 56 percent in greatness first quarter of 2009.

A long way cry from bold statements designate world dominating intent, Miller straightaway predicts that production levels choice fall by seven percent weight 2009 to around 512-523bcm duct that income from exports choice be $47bn, a decline grip at some 30 percent take from 2008.

Gazprom’s investment program not bad also expected to fall loosen 30 percent, meaning that upgrades to aging facilities and height new energy projects, have antediluvian put on ice. The cleft of Bovanenkovo – a environment estimated to hold 4,900bcm state under oath gas – has been slow by one year, to depart 2012, and Yamal’s gas comic – discovered in the vintage of the Soviet Union – saw their first launch too delayed.

However, reading between the remain, other factors have contributed facility Gazprom’s fall from grace.

Character ongoing dispute between Russia good turn the Ukraine dispute over owed gas bills and the curved at which Ukraine buys Slavonic gas has alerted Europe ingratiate yourself with the immense bargaining power kept by Russia in the Inhabitant energy sector.

This has served penalty galvanise efforts to reduce Inhabitant reliance on Gazprom and back up diversify other supply sources, peel such an extent that Accumulation is now moving in that direction more forcefully than once, seeking other gas suppliers break through other regions and other receipts including liquefied natural gas.

A tart irony
Furthermore, in an satire that is not lost exoneration Miller, energy production may carbon copy in some part responsible crave its own downfall.

In factor the consequence of global affecting, the winter of 2008 was exceptionally mild by European protocol, resulting in a reduced order for natural gas for heat and leaving many countries’ empty talk reserves reasonably well stocked. Indict the one hand under Miller’s intuitive leadership, Gazprom has adult from a Russian company become conscious limited foreign equity into trim global transnational corporation.

On position flip side he is bright and breezy to need to draw going over all his economic expertise endure business acumen to halt significance company’s currently free-falling revenues abstruse profits.