This would make it twice the size of the world’s biggest oil company, ExxonMobil, which is valued at $US479 billion.
Gazprom, which has a market cap of $US251 billion, is the eighth- largest company.
Alexander Medvedev did not give a timetable for achieving the goal but the Sunday Times reported that executives at the firm, which is nearly half-owned by the state, believe it can be achieved within five to seven years.
Medvedev told the paper: “It’s not just a nice figure.”
He said that the removal of gas price controls in Russia, a revaluing of its reserves by the wWestern market, the introduction of cost controls plus diversification and acquisitions could push Gazprom towards its objective.
