Russia's state-controlled gas company OAO Gazprom (GAZP.RS) is still undervalued despite its market capitalization surge in recent years, the company's Chief Executive Alexei Miller said Friday.
"Since 2000, Gazprom's market capitalization has increased by 44 times. In recent times, not one major energy company in the world has grown at such a speed. Gazprom is, however, still undervalued," said Miller
In particular, the structure and volume of the company's reserves, its potential to increase production and the diversity of transport possibilities are undervalued by the market, Miller said.