Russia's oil industry will not be nationalized, according to presidential expert department chief Arkady Dvorkovich. He pointed out that over 50% of all companies in the oil and gas sector are privately owned now, and the situation will not change in the future.
Commenting on the government's plan to increase the state’s share in Gazprom to 51%, Dvorkovich noted that the government has not chosen yet the exact method yet. In any case, the role of minority shareholders in Gazprom would remain significant, Dvorkovich said. Although the competition is growing in the gas sector, the situation for Gazprom's minority shareholders would still be favorable, as the company is a monopoly in gas transportation infrastructure. Also, it has a primary right to develop major gas deposits.