GERHARD SCHRÖDER, the former German Chancellor, is exploiting his personal relationship with President Putin by taking on a leading role with Gazprom, the Russian energy company.

The move was announced yesterday by Alexei Miller, the Gazprom chairman, as he opened a new Russian-German gas pipeline, but has yet to be confirmed by Herr Schröder.

His reticence is understandable. Gazprom’s pressure on East European states has been growing and the EU is becoming deeply dependent on the company’s gas supplies.

The management of Gazprom is very close to Mr Putin, whom the former Chancellor befriended during his seven years in office.

Herr Schröder, 61, is determined to boost his pension with business contracts. He is already signed up as a consultant to Ringier, a Swiss company. Reports suggest that he will earn about £300,000 a year from them, but the Gazprom position is likely to pay more.