Gazprom-AR2014

4
Statement of OAO Gazprom’s
Chairman of the Board of Directors
and Chairman of the Management Committee
Dear Shareholder,
Continuous progress is an important distinctive feature of Gazprom. By implementing new ambitious
projects, entering new markets, launching new products, and introducing new technologies
Gazprom confidently maintains its position at the vanguard of the global energy industry, building
a foundation for sustained success over the coming decades.
This is vividly illustrated by the Company’s performance in 2014.
By signing the largest contract for the supply of natural gas in the history of the Russian gas
sector Gazprom has made a spectacular breakthrough to the East. This milestone contract
allowed Gazprom to penetrate the fast-growing and most promising Chinese market. The signing
of the 30-year contract for over 1 tcm of gas to be supplied by the Company to Chinese consumers
along the «eastern» route, launched the world’s largest investment project.
The project to launch the Yakutsk gas production centre, with its huge natural gas reserves,
is fully on track. Construction is in full swing on the Power of Siberia pipeline, a key element of the
gas supply system in Russia’s east and the natural gas artery of the «eastern» route. All these
projects provide a huge boost to the social and economic development of Russia’s eastern regions
and a platform to radically expand gas infrastructure coverage of these areas and create
thousands of new jobs.
Given the huge size of the Chinese energy market, Gazprom Group is contemplating launching
another, «western» route for its gas supplies to China.
Timely measures have been taken to significantly reduce transit risks and improve the reliability
of gas supplies to Gazprom’s traditional export markets — Europe and Turkey. A project was
launched to construct a new trunk pipeline under the Black Sea. The pipeline will supply 63 bcm
of natural gas per annum, of which up to 47 bcm of gas will be delivered to European consumers.
When completed, the project will allow the Company to fully abandon the transit route via Ukraine,
which is prone to systemic risks.
Gazprom continues development of Russia’s Arctic. A new, second gas production site was
commissioned at the Bovanenkovskoye field, the biggest deposit in the Yamal Peninsula, the area
slated to become the flagship hub of the Russian gas sector. Innovative solutions and
state-of-the-art technologies were used in this project, bringing production at the Bovanenkovskoye
field to 90 bcm of natural gas annually. This volume is comparable to the aggregate
volume supplied by Gazprom in the previous year to the three biggest foreign buyers of Russian
natural gas — Germany, Italy and Turkey.
OAO Gazprom Annual Report 2014