ANALYSIS-Gazprom to reap benefits of Medvedev in Kremlin

By Amie Ferris-Rotman and Dmitry Zhdannikov

MOSCOW, May 6 (Reuters) - Gas export monopoly Gazprom (GAZP.MM: Quote, Profile, Research, Stock Buzz) stands to benefit from the arrival in the Kremlin of Dmitry Medvedev, the firm's chairman for the past decade who wants to make it the most valuable stock in the world.

Medvedev, who has helped the gas behemoth raise its value tenfold to more than $300 billion in the past 10 years and become one of the world's five most valued stocks, says its value will one day rise to $1 trillion.

He could help the company achieve that ambition by facilitating deals with global majors, asset accumulation, including an entry into BP's (BP.L: Quote, Profile, Research, Stock Buzz) oil venture TNK-BP, and a domestic gas price liberalisation.

Freeing domestic prices though will be tricky for Medvedev to deliver because it means striking a delicate balance between economic efficiency and stoking inflation.

Medvedev will step down as chairman of the world's top gas producer when he is inaugurated Russia's next president on May 7, taking the place of his mentor Vladimir Putin.

Analysts have no doubt he will now throw his weight behind all top-level deals at Gazprom in his new role.

"We are looking at a lot more favourable climate for Gazprom. The politics in energy, which has been a very, very difficult period, is now much more cooperative with the emphasis on structure and growth," said Chief Strategist Chris Weafer at Russian brokerage UralSib.

Over the last few years, Gazprom clinched several key deals involving foreign partners which were long in the making, in what analysts say was part of the Kremlin's plan to complement its vast reserve base with expertise and funding.