Alexei Miller, the  head of Russian state owned gas company, Gazprom, is set to remain at the helm for a further five years. 

A statement from the company stated, “The board of directors addressed the issue of electing Gazprom Management Committee Chairman and unanimously decided to re-elect Alexei Miller as Gazprom Management Committee Chairman for a 5-year term starting from May 31, 2016.”

Alexei Miller served as Russia’s deputy energy minister prior to 2001 when he began his tenure. The new contract will see Miller lead Gazprom until 2021.

It is expected that gas production in Russia may be down 2% in 2016 compared to last year, with demand from Europe being volatile due to a push for liquid natural gas by many states.

Miller’s salary was reported by Forbes magazine in November of last year to be in excess of $25 million.