Word: medvedevs
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...Medvedev is the paragon of a top corporate-statist-technocrat executive for the new Russian corporate state. Prior to 2002, when he came to head Gazpromexport, Medvedev had never been involved with natural gas. Born in the far eastern island of Sakhalin to the family of a Soviet air force officer, he left the island in his teens. In 1978, upon graduation from the fabled Phystech, Moscow's Institute of Physics and Technology--Russia's answer to M.I.T.--Medvedev, who majored in automated control systems, got a job with the Institute of World Economy and International Relations (IMEMO...
...Medvedev's pro-Putin maneuvering and his willingness to leverage supply power has made him a top gun at Gazprom. And more important, he who controls Gazpromexport controls Gazprom, says Mikhail Krutikhin, chief analyst for RusEnergy, Russia's authoritative energy think tank. Though Gazprom CEO Alexei Miller is also a Putin man, Medvedev was installed directly by the Kremlin independently of Miller, Krutikhin maintains. Both toe the same line, but the Kremlin runs them separately. Mutual mistrust makes for cooperation, to paraphrase Stalin...
...mission assigned Medvedev was to make sure that previously underpaid billions got collected, says a close associate. And did Medvedev collect. The company's capitalization rose from $11.35 billion in 2002 to more than $300 billion today, mostly as a result of growing energy prices and by accumulating prized assets like Sibneft Oil Co. or parts of the dismembered Yukos...
...runs his business the same way he plays his hockey--sharp and concentrated in handling passes--and he scores, says the associate. Medvedev also hits as hard as the Kremlin wants. One such hit shook Sakhalin Energy (SE), operator of the Shell-led Sakhalin II consortium. At $20 billion, it is the world's largest integrated oil-and-gas-export project, with total reserves of some 4 billion bbl. of oil equivalent (BOE) and total project capacity of 395,000 BOE per day, including 9.6 million tons per year of liquefied-natural-gas production. It is also the largest single...
...Medvedev now says publicly that Gazprom is also targeting the $12.8 billion Sakhalin I project, operated by an Exxon-led consortium. It fits perfectly with Russia's strategy to get more control of its energy assets. Exxon hasn't capitulated by any means, but it still might learn what Belarus and SE did: Gazprom always wins...