Russian gas companies fell in value by twice during this year

Gazprom, the leader of the global gas market, and six major Russian oil and gas companies, including Rosneft, together cost $150 billion, 2.5 times less than US Exxon Mobil.

 
Liberalization is gone

"I would really like Gazprom to become the most valuable company in the world," - the current Prime Minister Dmitry Medvedev, then head of the company’s Board of Directors, said in 2007. Two years before this a long-awaited liberalization of the market of Gazprom’s shares happened and the limit of 20% ownership of the company's shares for non-residents was canceled. Due to this, in 2006 the capitalization of Gazprom exceeded $300 billion, which allowed it to become the third in the list of the most expensive companies in the world. A year later, the head of Gazprom Alexei Miller had big idea about $1 trillion - according to him, this goal could be reached in 7-10 years.

Seven years later, this task looks fantastic. On December 16, 2014 due to the record collapse of the ruble quotations of Gazprom on the LSE dropped to $3.44 per share, and market capitalization to $40 billion. Gazprom wasn’t so cheap from the first half of 2003. At the same time, Gazprom is the most expensive domestic company and the largest producer of gas in the world (in 2013, the production made up 487.39 billion cubic meters).