Gazprom's capital share stood at $70 billion as of early June, while the value of its reserves is an estimated $84 billion, Rusakova said Monday at an investor conference organized by Renaissance Capital.
"It's obvious that Gazprom is substantially underrated. An independent estimate puts its value between $84 to $100 billion," she said.
Rusakova also said that Gazprom's board had not yet decided where to invest the proceeds from the recent sale of its 10.74% stake to the federal government.
"We've prepared a package of proposals. It will be assessed on the basis of potential efficiency. We haven't picked out anything in particular just yet," she said.
Earlier, Gazprom officials said that $1 million of the $7 billion dollars to be received for the stake would go to improve the natural gas infrastructure in Russian provinces.
