Gazprom-AR2014

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Additional information 159 — by Resolution No. 2375 of 27 June 2014, OAO Gazprom’s Board of Directors amended the Regulation on the Purchase of Goods, Works and Services by OAO Gazprom and Gazprom Group companies to simplify procurement procedures, including SMEs procurements. Improving OAO Gazprom’s procurement policies (Directive No. 2487p-P13 of 24 April 2014 by I. I. Shuvalov, First Deputy Prime Minister of the Russian Government, implementing the Action Plan on Limiting the Final Price of Goods and Services Offered by Infrastructural Companies While Keeping Their Financial Strength and Investment Attractiveness approved by Order No. 6732p-P9 of 11 November 2013 issued by D. A. Medvedev, Russian Prime Minister) OAO Gazprom’s Board of Directors issued Resolution on Improving OAO Gazprom’s Procurement Policies No. 2362 of 10 June 2014. By its Resolution No. 2392 of 8 August 2014, OAO Gazprom’s Board of Directors approved an Action Programme on Improving OAO Gazprom’s and its Subsidiaries’ and Affiliates’ Procurement Policies as approved by the Russian Ministry of Economic Development and Ministry of Energy. A progress report 2014 for the Programme has been forwarded to the Russian Ministry of Energy. In its Order No. 443 of 24 September 2014, OAO Gazprom approved its Methodology for Calculating Ratios for Reducing Procurement Prices for the Most Critical Procurements in 2014 as approved by the Russian Ministry of Energy and a list of the most critical procurements (goods, works and services) whose prices were to be reduced in 2014. The methodology was used to calculate reduced prices for the most critical procurements in 2014 which calculation was forwarded to the Russian Ministry of Energy. Regulating wholesale gas prices (Instruction No. dm-P13-1196 of 20 February 2014 by D. A. Medvedev, Russian Prime Minister) OAO Gazprom has prepared proposals on long-term energy pricing polices (as regards gas prices). OAO Gazprom believes that the gas industry’s long-term pricing policies must focus on inspiring the reduction of the energy component in the economy while creating appropriate conditions to develop the gas industry and market relations fostering gas supplies. (Item 1 of Minutes No. AD-P9-60pr of 29 May 2014, meeting held at the office of Russian Deputy Prime Minister A. V. Dvorkovich regarding a Russian gas market model and the need to amend some Russian Government’s gas sale decrees) Proposals on how to regulate wholesale gas prices until 2020 and gas price range targets until 2020 have been prepared. These proposals focus on setting prices that include reasonable expenses and margins corresponding to market return on capital deployed or such margins as ensure adequate sourcing of capital investments to support and develop gas production, transportation and storage activities. (Minutes No. A4-26-368 of 4 April 2014, Russian Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security; Instruction No. AD-P9-5865 of 31 July 2014 by A. V. Dvorkovich, Russian Deputy Prime Minister; item 1 of Minutes No. AD-P9-149pr of 2 October 2014) Jointly with federal executive authorities, OAO Gazprom studied differential gas pricing opportunities towards regulated wholesale price caps offered to large consumers, including procedures for applying, and cases triggering the application of, such prices. OAO Gazprom Annual Report 2014
160 Additional information These efforts have resulted in the preparation of a draft forwarded to the Russian Government, amending the State Regulation of Gas Prices, Transportation Service Tariffs and Charges for Connecting Gas Equipment to Gas Distribution Networks in the Russian Federation approved by Resolution of the Russian Government No. 1021 of 29 December 2000, with amendments (if accepted) changing procedures regulating wholesale gas prices offered to individual categories of industrial consumers. Decisions to reduce procurement costs per unit of output by at least 10% per year during three years in real terms, with these reduction targets to be used as a key performance indicator in assessing corporate and management performance (subparagraph 1f, List of Instructions No. Pr-846 of 2 April 2011 by D. A. Medvedev, Russian President) In its Order No. 86 of 30 March 2012, OAO Gazprom approved its Methodology for Calculating the Ratio of Reduction of Procurement Cost per Unit of Output. The Methodology takes account of the approaches recommended by the Russian Ministry for Energy. Final cost cutbacks are consolidated into three groups: — inventory procurement costs; — procurement costs related to core operations; — procurement costs related to investment. The resulting ratio calculated under subparagraph 1f of List of Instructions No. Pr-846 has been accepted as one of KPIs to assess OAO Gazprom’s management performance. Reduction of procurement costs related to investment (subparagraph 1f, List of Instructions No. Pr-846 of 2 April 2011 by D. A. Medvedev, Russian President) The implementation of the instruction has decreased procurements costs incurred under investment projects completed in 2014 by 11.37%. Arranging on-exchange gas trades (subparagraph 2c, Section II of Minutes No. A4-26-368 of 4 June 2014, Russian Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security) OAO Gazprom, jointly with ZAO Saint-Petersburg International Mercantile Exchange and ZAO Settlement depository company, made adequate arrangements to commence on-exchange natural gas trading at the SPIMEX. On-exchange gas trading is a vital tool to establish market criteria and improve transparency for market gas pricing practices, enabling to obtain market input for the pricing system. 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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80 Performance Results In accordanc
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82 Performance Results Oil and gas
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84 Performance Results Sales of ref
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86 Innovations In 2014, the budget
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88 Innovations — produced a techn
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90 Innovations 14 meetings of coord
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92 Environment and Social Responsib
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100 Environment and Social Responsi
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Page 109 and 110: 108 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
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: 158 Additional information Improvem
Page 163 and 164: 162 Addresses and Contact Details F
Page 165: www.gazprom.com
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Gazprom-AR2014

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