NEW YORK, April 21, 2014 /PRNewswire/ -- Gazprom OAO (OTCBB: OGZPY) extracts, transports, stores and sells natural gas. The company is the successor to the State-owned company. Gazprom owns and operates Russia's Unified Gas Supply System. The company has a monopoly in supplying gas in the Russian Federation, and exports natural gas to Western Europe.
Gazprom holds the world's largest natural gas reserves. The Company's share in the global and Russian gas reserves makes up 18 and 72 percent respectively. Gazprom accounts for 14 and 74 percent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad.
The unrest between the Ukraine and the Russian Federation will have a direct impact on Gazprom. Russia is a large supplier of natural gas to Western Europe and the pipelines that carry the product to that region run through the Ukraine. Russia is also the major supplier of natural gas to the Ukraine itself.
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