Ukrainian intelligence has reported that Russian energy giant Gazprom is establishing its own private military company (PMC). The rationale for an energy company establishing a security force is at least vaguely plausible given the need to defend fixed assets in trouble spots. Western energy companies like Exxon and BP do the same. However, Gazprom is not establishing a private army to guard a few remote wells or pipelines, or even to be sent to Ukraine. Gazprom’s move is likely about control over valuable energy resources inside of Russia, but more generally, a scramble for power.