Gazprom’s Management Committee has addressed issues in relation to the corporate power generation activities, underscoring that said business development was strategically crucial for Gazprom since it was fostering the company’s vertical integration, stronger standing as a global energy market player and long-term value growth.

Most of the world’s largest energy firms combine hydrocarbon extraction, transmission, processing and marketing activities with the power generation business, with emerging synergy effects allowing to apply the technological and management experience gained for improving each business performance.

Gazprom’s core business units were entrusted with preparing for the Management Committee’s approval the following documents: Gazprom’s Major Energy Businesses and Plan of Measures.

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Gazprom is a prominent gas supplier: Russian gas-driven power plants generate 45 per cent of overall electricity produced. 37 per cent of Gazprom’s total gas supply is channeled to the power generation sector. The Gazprom Group holds a 10.5 stake in Unified Energy System of Russia and 25 per cent of shares in Mosenergo.

Gazprom is one of the largest electricity consumers in Russia, annually consuming 18.7 bln kW/h or some 2 per cent of the RF total. Facing the challenge of providing the in-house infrastructure with reliable and economically viable supply of electricity, the company includes a Division for Energy and has set up Gazpromenergo to manage the power assets.