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. Last Updated: 07/27/2016

Nemtsov Is Kremlin Envoy in Gazprom

Russia's reformist Deputy Prime Minister Boris Nemtsov has been named by President Boris Yeltsin as the government's chief representative in natural gas monopoly Gazprom, the president's press office said Thursday.

Nemtsov had already said he would be in overall charge of the fuel and energy complex and natural monopolies as part of his brief, so the new appointment appears to confirm his role in the country's key energy sector.

He had been the senior government representative to Gazprom from the time when government representation to the company was set up in early 1997, but stood down in December last year when he was moved from his then post as fuel and energy minister.

Gazprom is the largest gas company in the world with production of 533.8 billion cubic meters in 1997. It accounts for 25 percent of world gas output and nearly 40 percent of global gas trade.

The company is headed by Rem Vyakhirev, who succeeded Viktor Chernomyrdin, Russia's former prime minister, in the post.