Gazprom acquired NTV, Russia's only nationwide state-independent television station from Vladimir Gusinsky's company, Media-Most holdings. In 2002, the Gazprom subsidiary Gazprom Media acquired all of Gusinsky's shares in companies held by Media-Most. In September 2005, Gazprom bought 72.633 percent of the oil company Sibneft for $13.01 billion. Sibneft was renamed Gazprom Neft. The purchase was aided by a $12 billion loan. Gazprom became Russia's largest company. On the day of the deal the company worth was valued at £69.7 billion (US$123.2 billion.) In December 2006, Gazprom signed an agreement with Royal Dutch Shell, Mitsui and Mitsubishi, to take over fifty percent
Gazprom Arena by the city government of St Petersburg, with Gazprom switching to build a separate skyscraper project. The City Hall had to step in after Gazprom declined to invest any further money into the stadium's construction. On 25 July 2016 the general contractor, Inzhtransstroy-Spb, issued a statement that the city authorities have failed to pay 1 billion rubles ($15.8 million at the current exchange rate) worth of construction work and stopped the work. The next day the contract was terminated. On 1 August there were reports of wind damage to parts of the metal sheathing, and a flood. In the end