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Main page > Comments > Fuel & Energy > Putin: Will he, won't he?
Putin: Will he, won't he?
The possibility that Russian president Vladimir Putin may take over the helm of Gazprom when he steps down in 2008 has surfaced once again.
Konstantin Simonov, general director of the National Energy Security Fund in Russia told a recent Chatham House meeting in London that the position of ceo in a multinational oil and gas corporation is what Putin wants. 'The elections are next spring. He may be a bit tired [and] he needs to create a spot for himself that he can take after resigning in 2008 and that can be a promotion for him compared to the Russian president status,' Simonov said. And he claims that Putin is currently building his retirement as the head of a global player in the world's energy market. 'The main goal of Russia's energy policy today is to enable Gazprom to become a transnational company and Putin to be the most powerful businessman in the oil and gas market,' Simonov said.
Putin is due to step down in 2008. He is constitutionally barred from serving a third term. Putin previously ruled out the possibility that he would take the top job at Gazprom, saying that he is not a natural businessman. But natural businessman or not, his backing of the company should stand him in good stead, if he were to change his mind. He has already helped to see off Gazprom's rivals in Russia.
Russian company Yukos has had its assets taken over by Rosneft and Gazprom. Western companies like BP and Shell with investments in Russia are also being squeezed out (C&I 2006, 24, 8; 2007, 1, 5). Gazprom is striving to gain a foothold in western markets, but given the difficulties faced by foreign companies in Russia, this may prove increasingly troublesome.
Author: Marina Murphy
Published: Chemistry and Industry, June 25, 2007
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