Gazprom-AR2014

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Corporate Governance 127 In 2014, OAO Gazprom and its subsidiaries entered into more than 23.5 thousand contracts through competitive procurement worth RUB 817bn and saved over RUB 35bn (or 4.1% of the initial price). To control procurement from a sole supplier (contractor, service provider) OAO Gazprom has a Budget Committee in place, reviewing price bids to assess whether pricing is reasonable. Such reviews help reveal opportunities for a 10–15% price reduction, which is higher than average cost saving through competitive procurement. As part of the national SME development policy and pursuant to resolutions issued by Russian Government, OAO Gazprom implements a set of initiatives to widen access for SMEs to the Company’s procurement. According to 2014 procurement results, OAO Gazprom entered into 1,185 contracts with SMEs to an amount of RUB 3,882 mm, including through competitive procurement, where SMEs, on a common basis, won 93 contracts to a total of RUB 2,835mm, and 1,092 contracts with a sole supplier (contractor, service provider) to the total of RUB 1,047 mm. Initiatives to expand SMEs access to procurement i See more detail in the Innovative Activity section — Single-window system was developed for introduction of SMEs’ innovative products and results of scientific research, design and technological projects and mutual technology transfer. — OAO Gazprom–SME Partnership Programme was approved, including innovative companies. — Procurement procedures were simplified to the maximum possible extent and shifted to an electronic format by using the capabilities of Electronic Trading Platform of Gazprombank (ETP-GPB) and OAO Gazprom’s Automated electronic procurement system. — Request for proposal (RFP) form was developed and is currently used; it contains minimum required list of documents, which simplifies procurement procedure for SMEs. — No bid bond requirement is applied to SMEs in procurement of items to which they are eligible. — Specifics and priorities were specified for SMEs participating in procurements: the Procurement Regulation was supplemented with section 17, Specifics of Competitive Procurement from SMEs, which, in accordance with the law, will become effective on 01 July 2015 (Resolution of OAO Gazprom’s Board of Directors No. 2375 dated 27 June 2014). — List of products procured only from SMEs was prepared; it includes over 390 items of goods, works and services. — To simplify small procurement procedure (for an amount of up to RUB 500 thousand) an electronic procurement service was developed and launched at the Electronic Trading Platform of Gazprombank (ETP-GPB). The above initiatives will grant access to Gazprom Group procurement for medium-sized as well as small businesses. Since the procurement is ultimately necessary for continuous operation of Gazprom Group, the ultimate criterion and high efficiency indicator of the current procurement system is OAO Gazprom’s performance in terms of gas supply reliability, capacity additions in Russia and abroad, and success of investment projects and programmes, i.e. contribution to national energy security. OAO Gazprom Annual Report 2014
128 Corporate Governance Stock Market and Capitalisation OAO Gazprom’s charter capital is RUB 118,367,564,500 divided into 23,673,512,900 ordinary shares with a par value of RUB 5 each. State registration number of the issue is 1-02-00028-A. The state registration date is 30 December 1998. There are no preferred shares. The Russian Federation does not have a special right to manage OAO Gazprom’s affairs (a “golden share”). OAO Gazprom’s shareholding structure, % Name As at 31 December 2013 As at 31 December 2014 The Russian Federation represented by the Federal Agency for State Property Management 38.37 38.37 OAO Rosneftegaz* 10.97 10.97 OAO Rosgazifikatsiya** 0.89 0.89 ADR holders*** 25.78 28.05 Other holders of record 23.99 21.72 * As at 31 December 2013 and 31 December 2014, the share of the Russian Federation represented by the Federal Agency for State Property Management in OAO Rosneftegaz was 100%. ** As at 31 December 2013 and 31 December 2014, OAO Rosneftegaz held 74.55% shares in OAO Rosgazifikatsiya. *** The Bank of New York Mellon issued ADRs on OAO Gazprom’s shares. Registered stockholders of more than 2% shares in OAO Gazprom as at 31 December 2014 Name Stake, % The Russian Federation represented by the Federal Agency for State Property Management 38.37 OAO Rosneftegaz 10.97 Gazprom Gerosgaz Holdings B.V. (controlled by OAO Gazprom) 2.93 There are no OAO Gazprom’s shares the title to which was transferred to the Company. OAO Gazprom’s shares were included on the first (top) level quotation list of Russian ZAO Micex Stock Exchange and OAO Saint-Petersburg Exchange. Performance of OAO Gazprom’s ordinary shares and daily trading volumes on ZAO Micex Stock Exchange in 2014, Ticker: Gazp RX 175 250 150 200 150 125 100 100 50 75 0 January February March April May June July August September October November December Share price, RUB Trading volume, mm shares OAO Gazprom’s ADRs are traded on London, Berlin and Frankfurt exchanges, with London Stock Exchange (LSE) accounting for the bulk of trade. OAO Gazprom Annual Report 2014
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OAO Gazprom Annual Report 2014 The
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Contents 4 Statement of OAO Gazprom
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4 Statement of OAO Gazprom’s Chai
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6 Major results Gazprom Group Resul
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8 Company Information OAO Gazprom
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10 Company Information OAO Gazprom
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12 Company Information Track Record
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14 Company Information Gazprom Grou
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16 Company Information Operations a
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18 Business Development Prospects S
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20 Business Development Prospects G
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22 Business Development Prospects E
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24 Business Development Prospects T
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26 Business Development Prospects E
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28 Business Development Prospects P
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30 Business Development Prospects U
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32 Business Development Prospects S
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34 Board of Directors and Managemen
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42 Board of Directors’ Report on
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48 Trends and Developments on Oil a
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54 Performance Results Exploration
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56 Performance Results Distribution
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58 Performance Results Distribution
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60 Performance Results The company
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62 Performance Results Hydrocarbon
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64 Performance Results Transportati
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66 Performance Results Gas transpor
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68 Performance Results Gas Infrastr
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70 Performance Results Hydrocarbon
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72 Performance Results Gazprom, on
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74 Performance Results OAO Mezhregi
Page 77 and 78: 76 Performance Results Major invest
Page 79 and 80: 78 Performance Results European gas
Page 81 and 82: 80 Performance Results In accordanc
Page 83 and 84: 82 Performance Results Oil and gas
Page 85 and 86: 84 Performance Results Sales of ref
Page 87 and 88: 86 Innovations In 2014, the budget
Page 89 and 90: 88 Innovations — produced a techn
Page 91 and 92: 90 Innovations 14 meetings of coord
Page 93 and 94: 92 Environment and Social Responsib
Page 101 and 102: 100 Environment and Social Responsi
Page 111 and 112: 110 Corporate Governance OAO Gazpro
Page 113 and 114: 112 Corporate Governance Corporate
Page 115 and 116: 114 Corporate Governance Summary of
Page 117 and 118: 116 Corporate Governance Remunerati
Page 119 and 120: 118 Corporate Governance In additio
Page 121 and 122: 120 Corporate Governance Liability
Page 123 and 124: 122 Corporate Governance Audit Comm
Page 125 and 126: 124 Corporate Governance The intern
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Page 131 and 132: 130 Corporate Governance Dividend P
Page 133 and 134: 132 Risk Management Gazprom has con
Page 135 and 136: 134 Risk Management Customs, curren
Page 137 and 138: 136 Glossary ADR of OAO Gazprom APG
Page 139 and 140: 138 Corporate Governance Units of M
Page 141 and 142: 140 Additional information List of
Page 143 and 144: 142 Additional information 11. Adde
Page 145 and 146: 144 Additional information 27. Bank
Page 147 and 148: 146 Additional information 45. Adde
Page 149 and 150: 148 Additional information 59. Trad
Page 151 and 152: 150 Additional information 68. Trad
Page 153 and 154: 152 Additional information 84. Cont
Page 155 and 156: 154 Additional information 96. Volu
Page 157 and 158: 156 Additional information Inclusio
Page 159 and 160: 158 Additional information Improvem
Page 161 and 162: 160 Additional information These ef
Page 163 and 164: 162 Addresses and Contact Details F
Page 165: www.gazprom.com
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