Gazprom-AR2014

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Performance Results 71 Gazprom Group’s oil products distribution in 2014 1 2 3 4 5 6 1 Diesel fuel 30% 2 Motor gasoline 23% 3 Fuel oil 17% 4 Jet fuel 6% 5 Oils 1% 6 Other oil products 23% Gas and gas condensate processing by Gazprom’s gas processing and production subsidiaries In 2014, Gazprom launched the complete cycle of liquefied helium production. In 2014, OAO Gazprom’s gas processing and production subsidiaries refined 30.0 bcm of natural gas (down 3.5% y-o-y), 16.4 mm tonnes of crude oil and unstable gas condensate (up 1.9% y-o-y). The decrease in gas refining volumes against 2013 was caused by declining gas production at the fields feeding the Orenburg GPP and Sosnogorsk GPP (Orenburgskoye and Vuktylskoye OGCFs). To boost utilisation of gas refining capacities at the Sosnogorsk GPP, the Group and OAO LUKOIL are running a joint project for processing APG from OAO LUKOIL’s northern group of fields. In the reporting year, approvals were issued for the process chart of transportation, intake, treatment and refining of associated petroleum gas. Preparations were also carried out for the construction and expansion of the necessary gas transportation facilities. Unstable condensate refining volumes grew due to increased liquid hydrocarbons production in in the achimovsk formation of the Urengoyskoye OGCF. Measures were taken in the reporting year to diversify the product mix and improve product quality. The Astrakhan GPP implemented proprietary technological solutions to start production of winter diesel fuel. Achieving rated capacity at the new gasoline hydrotreater enables the plant to start producing Euro 4 diesel fuel, while the newly commissioned gasoline fraction isomerisation unit can start producing Euro 5 Premium Euro 95 motor gasoline. The Orenburg GPP began producing liquefied helium, while the Surgut Condensate Stabilisation Plant (CSP) launched the production of process propane-butane. Oil refining and petrochemistry at Gazprom neft Group’s facilities In 2014, Gazprom neft Group refined 43.5 mm tonnes of oil and stable gas condensate (up 2.1% y-o-y). The increase resulted from a rise in refining output by the Omsk Refinery, where the primary refining unit had completed scheduled maintenance in Q3 2013. Other factors included the lifting of restrictions on dark oil product shipments, a larger share of gas condensate refining, and a respective decline in the share of dark oil products. Upgrades of production facilities led to increased Euro 5 gasoline and diesel fuel output. Jointly with its Russian and foreign partners, Gazprom neft carried out projects for the production of certain products with high added value, i.e. modified bitumens and polypropylene. The Moscow Refinery started pilot operation of Russia’s first unit for the production of next-generation polymer-modified bitumens under the G-Way Styrelf brand. The unit, built by a joint venture of Gazprom neft and the French-based Total, is designed to produce 60 thousand tonnes of polymer-modified bitumens and 7 thousand tonnes of bitumen emulsions annually. OAO Gazprom Annual Report 2014
72 Performance Results Gazprom, on a parity basis with OAO SIBUR Holding, bought a 50% interest in OOO Poliom, a joint venture operating the facilities of the Omsk Polypropylene Plant. Gazprom neft is to supply to OOO Poliom raw materials (propane-propylene fraction from the Omsk Refinery), and OAO SIBUR Holding is to sell the products made by the joint venture through its distribution chain. Oil refining, petrochemistry and mineral fertiliser production at Gazprom neftekhim Salavat facilities In 2014, the production facilities of Gazprom neftekhim Salavat refined 8.3 mm tonnes of oil and gas condensate (5.5 mm tonnes of oil and 2.8 mm tonnes of gas condensate) at a 79% processing depth. The reduction of gasoline output was caused by unscheduled shutdowns of conversion units and longer repair time. The production output of HDPE, polystyrene, ethylene and urea was increased. In 2014, refineries started producing SMT-1 (MDO) low-viscosity marine fuel in accordance with high environmental standards. Also, a declaration of conformity was obtained for Euro 5 regular diesel fuel production facilities. Major investment projects Gazprom Group’s refining capex increased by 23.5% (RUB 25.7bn) y-o-y to reach RUB 135.1bn. Commissioning of hydrocarbons processing and gas and petrochemistry production facilities — Orenburg Helium Plant commissioned an OG-500 helium liquefying unit of 4.2 mm litres per year. — Surgut CSP commissioned a condensate stabilisation unit (process lines 8 and 9) of 4 mm tonnes per year. — Astrakhan GPP commissioned an isomerisation unit of 300 thousand tonnes per year. — Gazprom neft’s refineries completed several major upgrades. The Omsk Refinery commissioned a terminal fordraining, storing and injecting gas condensate for processing to increase light oil product output. The Moscow Refinery upgraded the AVT-6 primary oil refining unit and commissioned a sulphur granulation unit. OAO Slavneft-YANOS completed an upgrade of several units used in the production of motor gasoline: catalytic cracking, sulphuric acid alkylation, and methyl tertiary butyl ether units. The bulk of the capital expenditures for refining was allocated for the following projects: construction of the Novy Urengoy Gas Chemical Complex, upgrading Gazprom neft Group refinery capacities, modernisation at the Astrakhan Gas Processing Plant, construction of the Urengoy — Surgut gas condensate pipeline (second line), and construction and upgrade of oil refining and petrochemical facilities at Gazprom neftekhim Salavat. 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
Page 21 and 22: 20 Business Development Prospects G
Page 23 and 24: 22 Business Development Prospects E
Page 25 and 26: 24 Business Development Prospects T
Page 27 and 28: 26 Business Development Prospects E
Page 29 and 30: 28 Business Development Prospects P
Page 31 and 32: 30 Business Development Prospects U
Page 33 and 34: 32 Business Development Prospects S
Page 35 and 36: 34 Board of Directors and Managemen
Page 43 and 44: 42 Board of Directors’ Report on
Page 49 and 50: 48 Trends and Developments on Oil a
Page 55 and 56: 54 Performance Results Exploration
Page 57 and 58: 56 Performance Results Distribution
Page 59 and 60: 58 Performance Results Distribution
Page 61 and 62: 60 Performance Results The company
Page 63 and 64: 62 Performance Results Hydrocarbon
Page 65 and 66: 64 Performance Results Transportati
Page 67 and 68: 66 Performance Results Gas transpor
Page 69 and 70: 68 Performance Results Gas Infrastr
Page 71: 70 Performance Results Hydrocarbon
Page 75 and 76: 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
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122 Corporate Governance Audit Comm
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124 Corporate Governance The intern
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126 Corporate Governance Efficient
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128 Corporate Governance Stock Mark
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130 Corporate Governance Dividend P
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132 Risk Management Gazprom has con
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134 Risk Management Customs, curren
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136 Glossary ADR of OAO Gazprom APG
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138 Corporate Governance Units of M
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140 Additional information List of
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142 Additional information 11. Adde
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144 Additional information 27. Bank
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146 Additional information 45. Adde
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148 Additional information 59. Trad
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150 Additional information 68. Trad
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152 Additional information 84. Cont
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154 Additional information 96. Volu
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156 Additional information Inclusio
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158 Additional information Improvem
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160 Additional information These ef
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162 Addresses and Contact Details F
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www.gazprom.com
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Gazprom-AR2014

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