Gazprom, Russia’s premier state-owned energy company, isn’t exactly known to be bashful, but recent statements from CEO Alexy Miller were bold even by its standards. Speaking with the FT, Miller said that oil will vault to $250, that OPEC (and everyone else) is powerless to stop it, and that Gazprom will become the most influential company in the energy industry with a $1 trillion market cap. FT:
Alexey Miller told the Financial Times that the world was undergoing “a great surge in oil and gas prices . . . which will end with prices at a radically new level”.
He added that even Opec had no real influence on prices. “Not a single decision has been passed of late that would really influence the global oil market.”
Mr Miller continued: “In the coming years Gazprom will be not just a major company in the world, but the most influential in the energy business,” adding that its target was to reach a market capitalisation of $1,000bn.
Miller also said foreign company’s would be well-advised to only invest in Russia if they do so alongside Gazprom. (Because otherwise the Russian will just take their companies away?)
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