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Leading Global Gas and Oil Companies

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Editor’s Remarks:
With $16.53bn in net income, Russia’s state-backed gas behemoth, Gazprom, dwarfs its competitors. The European demand for Russian gas has increased enormously in recent years, due largely to the dwindling supply of North Sea oil and the concurrent reliance on burning gas for electricity. Gazprom enjoys a dominant presence in Baltic states as well as Germany and the Netherlands, which gives it indirect access to the UK market. There are clear signs Western states are wary of their increasing dependence on Russian energy – after all, four Russian entities are among the world’s top ten oil and gas companies. Trump is widely expected to reinvigorate US oil and gas production by pulling out of the Paris agreement within the week and Theresa May’s election manifesto aims to promote fracking in the UK. Clearly, the two countries are willing to pay a political premium in order to win back energy independence from the Kremlin. (edited)

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