Gazprom's Power Play: Alexei Miller's Extended Reign

Alexei Miller, CEO of Russia's Gazprom, will continue his leadership for another five years. He played a crucial role in regaining state control of Gazprom, which critics say is used by Moscow as an 'energy weapon.' Despite past successes, Gazprom's market value has significantly decreased recently.

In a recent announcement from Moscow, Gazprom, the Russian gas giant, confirmed the extension of its CEO Alexei Miller's contract for another five years. At 64, Miller continues to steer the company amid turbulent industry conditions.

Miller's career highlights include his tenure in the St. Petersburg mayor's office alongside Vladimir Putin and his subsequent takeover of Gazprom in 2001. Under his leadership, Gazprom maintained a stronghold on natural gas exports, often criticized as Moscow's strategic 'energy weapon'.

Despite these achievements, Gazprom's market value has dramatically declined, plummeting from the third-largest company globally in 2007 to a significantly reduced value amidst geopolitical tensions and decreased European gas exports.

(With inputs from agencies.)