The former CEO of Russian leading energy company, Rem Vyakhirev has died on Monday at the age of 78.

      The press service of Russian Energy Ministry confirmed Vyakhirev's death, earlier reported by gas industry officials.

      Vyakhirev’s term at Gazprom started in 1992, when being appointed as the company's chief executive officer, which allowed him to accumulate enough wealth to join the ranks of Russia’s oligarchs. Under his guidence Gazprom was turn into a joint-stock company. The press often called Vyakhirev Russia's "Gas King". He left the post in 2001 and has never appeared in news since then. His successor is Alexey Miller.