Aleksandr Ryazanov Dismissed

Aleksandr Ryazanov was dismissed yesterday evening as vice chairman of Gazprom. He had been responsible for a wide range of functions at Gazprom, including the domestic gas market, relations with importers and exporters, third-party access to Gazprom's gas transportation system, and gas liquids. In addition, he had been president of Gazprom Neft, Gazprom's oil subsidiary, since that company was formed following the purchase of Sibneft last fall. His departure has important implications, for both Russian oil and Russian gas, for international exploration and production (E&P) companies, and possibly for Russian politics as well:

* Ryazanov's departure leaves his rival Aleksandr Ananenkov, who is responsible for upstream production, and Aleksandr Medvedev, the head of Gazeksport, as the dominant figures on Gazprom chairman Aleksey Miller's team. Ryazanov and Ananenkov had sparred over several major issues recently.
* Ryazanov's departure underscores the mounting crisis around Gazprom and Russian gas policy as Gazprom struggles to cope with rapidly growing domestic gas consumption. His dismissal comes on the eve of a crucial meeting of Russian energy leaders with President Vladimir Putin, scheduled for November 22, to discuss the looming shortage of gas supplies.
* Though it has not yet been officially announced whether Ryazanov will be replaced as head of Gazprom Neft, his departure from that position would be a blow for the international E&P companies that have been in close talks with Ryazanov regarding joint ventures with Gazprom Neft in West Siberia.

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