Ultimately, the reforms are likely to lead to greater foreign investment in the gas company. Currently Gazprom’s shares are traded on four separate exchanges in Russia, with isolated trading of foreign and domestic shares.

The reforms are also set to remove restrictions on the number of transactions that can be undertaken in Gazprom stock. The restrictions in trading were imposed in the 1990s to prevent a foreign takeover of the company.

The minister has signed the package of documents and sent it to the government today, deputy economic development and trade minister Kirill Androsov said on November 21.