1. Gazprom
and
Hermitage Capital
Shareholder Activism in Russia
INTERNATIONAL
CONSULTING

2. Issue Definition
Environment Analysis
Strategy Options
Strategy Choice
Action Plan

3. Issue Definition

4. As an Activist Shareholder,
How to make an investment in Gazprom?
Issue Definition 1

5. Environment Analysis

6. 1. Economic Environment in Russia
Russia posted GDP Growth of
6.4% in 1999, 10% in 2000, 5.1% in 2001, 4.7% in 2002
with Industrial sector posting high growth figures as well.
Environment Analysis 2