Gazprom-AR2014

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Corporate Governance 131 Dividend yield on OAO Gazprom’s shares is comparable to that of leading Russian and foreign companies. Dividend yield, 2006–2014, % 2006 0.8 2007 0.8 2008 0.3 2009 1.3 2010 2.0 2011 5.2 2012 4.2 2013 5.2 2014 5.5 Note. Dividend yield for the relevant period is calculated as at 31 December of the respective year. Schedule of OAO Gazprom’s dividend payments (in accordance with amendments to the Federal Law On Joint-Stock Companies made in 2013) — Dividends shall be paid to nominee holders and trustees, who are professional securities market participants and shareholders of record, within 10 business days from the date when persons entitled to dividends are determined; — Dividends shall be paid to other shareholders of record within 25 business days from the date when persons entitled to dividends are determined. OAO Gazprom Annual Report 2014
132 Risk Management Gazprom has consistently focused on risk prevention. The Company has all the resources required to timely identify, assess and neutralise emerging threats and potential negative impacts. Risk Management System Acknowledging that its operations are exposed to uncertainties in the form of risks, the Company implements risk management measures to provide adequate assurances that the targets set for OAO Gazprom by its governing bodies will be achieved. OAO Gazprom’s risk management system is defined as an aggregate of the organisational structure, in-house regulations, corporate culture standards, methodologies and procedures aimed at providing adequate assurances that OAO Gazprom’s targets will be achieved, and supporting the management and employees at OAO Gazprom’s business units and subsidiaries in decision making in an uncertain environment. It covers all levels of the Company’s corporate governance and operations. Goals and objectives of OAO Gazprom’s risk management system are to: — give reasonable assurance that the Company’s targets will be achieved, and enhance sustainability and performance by identifying and managing the entirety of risks; — reduce the number of contingencies and losses in the course of the Company’s operations, and use the resources and potential opportunities as efficiently as possible; — improve decision-making on risk responses and improve the use and allocation of resources for risk management activities; — provide risk-related information to support managerial decisions; — enhance corporate governance at the Company and build trust and confidence in the Company among investors and other stakeholders; — ensure security of assets, as well as completeness and reliability of financial statements, management and other reports; — ensure compliance with laws and regulations, as well as with the internal policies, rules and procedures. The overall goals are set at the strategic level and inform the strategic target indicators and performance benchmarks in the key areas set for OAO Gazprom’s business units and subsidiaries. Components of the risk management system Information and communications Internal environment Risk-based managerial culture, compliance with corporate and business ethics requirements Monitoring and control Goal-setting Risk identification Risk response Risk management activities Information sharing has been arranged, enabling identification of risks affecting the achievement of goals and design of risk management activities. Monitoring includes the assessment of risk levels and the verification of progress of risk management activities. 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
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76 Performance Results Major invest
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78 Performance Results European gas
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Page 83 and 84: 82 Performance Results Oil and gas
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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
Page 127 and 128: 126 Corporate Governance Efficient
Page 129 and 130: 128 Corporate Governance Stock Mark
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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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