Gazprom where it is constructing Europe's tallest building for its new headquarters. Gazprom is the world`s largest oil producer, with producing oil through the largest natural gas field in the world, the Shtokman field. Gazprom was created in 1989 when the Soviet Ministry of Gas Industry was converted to a corporation, retaining its Russia-based assets. Gazprom is involved in the Russian Government's diplomatic efforts, setting of gas prices, and access to pipelines. Gazprom's production fields are located around the Gulf of Ob in Western Siberia. Plans have also been made to mine the Yamal Peninsula. Gazprom's gas transport system includes 158,200
Gazprom Armenia Gazprom and Armenia signed a contract for 25 years about strategic principles of cooperation in gas and energy projects in the Armenian territory. After this contract Gazprom raised the gas price from the preferential $54 per 1,000 m3 to $110 per 1,000 m3. The price is fixed on this still preferential level until 1 January 2009. To avoid a higher prizes level for natural gas, the Armenian government had to make some concessions that the Iran-Armenia Natural Gas Pipeline and the 5th unit of Hrazdan Thermal Power Station get under control of ARG. Final owner rights must transit till 1