Gazprom’s domestic share market is currently limited to four stock exchanges. The company’s foreign and domestic share markets are separated from each other, and foreign investors can only buy Gazprom shares in the form of ADRs, and they cannot operate with them on the Russian market. The end goal of the liberalization program is to unite the two markets.

The government has a 38.37 percent stake in Gazprom, and it has another 16 percent in Gazprom’s affiliates. Six out of eleven Board Directors are government representatives.

Meanwhile, Mr. Miller said Gazprom was going to increase its presence in Europe, the United States and the Asia Pacific region.

The Chairman of the Board stressed that Gazprom was ready to work on Europe’s liberalized market, and it was already developing spot contracts. According to him, Gasprom is beginning talks with Kogas (South Korea) on a long term contract, and it is in talks on gas sales to Japan and other countries of the Asia Pacific region. Planning to expand its presence on the US market, Gazprom is preparing a technical and economic feasibility study on the project.

Speaking about Gazprom’s gas distribution companies outside Russia, Mr. Miller said the most interesting countries in this respect were Romania, Bulgaria, Greece, Serbia and Montenegro.