Russian Energy Firms Consolidates the Energy Market

Filed in archive Current News by Reden Rodriguez on December 11, 2006

Two energy giants in the former Soviet Union have joined forces to gain massive control over the Russian energy market. According to this article the heads of state-controlled Gazprom and Rosneft have signed an agreement on strategic cooperation which will control the energy market of Russia. That includes oil, gas, and even energy bids and contracts.

Critics and industry experts see the cooperation between the two giants as a super energy holding consolidation that will bring together economies of size to Russia's energy resources. Whether or not this will actually be beneficial or detrimental could only be answered in time.

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