Nefte Compass has based its analysis on the fact that Rosneftegaz, which was established as a technical Special Purpose Vehicle to enable the Russian government to establish direct control at Gazprom, still exists and owns 75.2% of Rosneft's shares and 10.7% of Gazprom's shares. We note that Rosneftegaz is 100% owned by the Russian Federal Property Fund and as a separate entity does not have any powers. Nefte Compass argues that it may become more independent and exercise the functions of a corporation, rather than as an account for the government's energy holdings.