Analysis of Gazprom’s Economic Activities and Political Impact in an increasingly uncertain European market

Rasmus Duus Hedengran, Alexander Schmidt Kondrup & Lyes Ziri

Studenteropgave: Fagmodulprojekt


This project set out to examine the Russian gas conglomerate Gazprom and its response the increasing uncertainty in its European market. The project analysed the company through the use of Geert Hofstede’s cultural dimensions theory and Michael Porter’s value chain analysis framework. The project was able to identify uncertainty aspects in the EU market, such as new regulations, increased political tension and a general natural gas glut to be significant factors in making the environment increasingly uncertain. By identifying these factors it was possible to apply cultural dimension theory and value chain analysis to analyse Gazprom’s recent responses to these factors. The project found that Gazprom’s top management was more aware of the uncertainties of its activities than Hofstede’s general findings on the uncertainty response in Russian national culture. Furthermore, the use of the value chain analysis found that Gazprom’s strategic response was one of increased investment in order to diversify exports markets such as to China and Algeria. The use of value chain analysis found that this strategy is sought due the rigid nature of the gas industry, which suffers from being capital intensive in technology and a tendency to be geographically locked in place and thereby requiring big investments in capital and time to elicit affective responses to uncertainty.

UddannelserVirksomhedsstudier, (Bachelor/kandidatuddannelse) Bachelor
Udgivelsesdato28 maj 2017
Antal sider49
VejledereFlemming Bahner