Stanislav Tsygankov has been appointed to head the department, which will replace the department of foreign relations. Alexander Medvedev, the general director of Gazpromexport and deputy chairman of Gazprom's board of directors, will oversee the department's activity.
The new department will develop strategy, plan short-term foreign economic activity, estimate prospects for overseas business development, manage foreign assets and related deals, and implement major investment projects in Russia (the North-European Pipeline, the development of the Shtokman and South-Russian deposits, and the construction of facilities to produce and export liquefied natural gas) and abroad.
The new structure will take over some business development functions from Gazpromexport and Zarubezhneftegaz, a Gazprom subsidiary, and gradually consolidate all the functions to manage Gazprom's foreign activity, including the coordination of eastern projects, work with CIS countries, and the management of international investment projects.
