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How Did Russia’s Gas Goliath Get Beaten by Its David?

How Did Russia’s Gas Goliath Get Beaten by Its David?

Imagine a decade from now, U.S. giant Exxon Mobil Corp. has been knocked from its perch as the world’s largest oil company by its rival from tiny Portugal -- about 20 times smaller. It seems unlikely, but something equally strange has just happened in Russia. State-run Gazprom PJSC -- the world’s biggest natural gas producer -- was surpassed in market capitalization by the much smaller Novatek PJSC.