Gazprom-AR2014

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Performance Results 73 Power and Heat Generation Gazprom Group is the largest Russian owner of generating assets. Gazprom accounts for 15% of power and 24% of heat energy generated in Russia. The Group’s main generating assets are consolidated in OOO Gazprom energoholding, a 100% subsidiary controlling OAO Mosenergo, OAO TGC-1, and OAO MIPC. The controlling stake in ОAO OGK-2 belongs to OAO Centerenergyholding, a subsidiary of OOO Gazprom energoholding. In October 2014 OAO TGC-1 sold Ondskaya HPP with 80 MW of installed capacity. The Group’s Russian assets also include the Novo-Salavatskaya CHPP. Gazprom Group’s generating assets in the Russian Federation as of 31 December 2014 8 6 4 7 5 9 1 2 3 10 11 12 13 14 1 Adler 2 Stavropol 3 Novocherkassk 4 351 90 Adler TPP* OGK-2 2,400 145 Stavropolskaya GRES OGK-2 Novocherkasskaya GRES OGK-2 1,884 60 12,737 40,371 166 10,546 5 Ryazan 6 Pskov 7 Kirishi 8 3,070 180 Ryazanskaya GRES OGK-2 440 84 13 Surgut Surgutskaya GRES-1 OGK-2 14 3,268 903 1,250 1,176 Pskovskaya GRES OGK-2 Krasnoyarsk Krasnoyarskaya GRES-2 OGK-2 2,595 1,234 Kirishskaya GRES OGK-2 7,164 14,152 9 Cherepovets 10 Salavat 11 Troitsk 12 Cherepovetskaya GRES Novo-Salavatskaya CHPP Troitskaya GRES OGK-2 OGK-2 1,052 39 530 1,619 Installed power capacity as of 31 December 2014, MW Installed heat capacity as of 31 December 2014, Gcal/h 1,574 315 Moscow and Moscow region 15 stations Mosenergo MIPC Sankt-Petersburg, Republic of Karelia, Leningrad and Murmansk regions 54 stations TGC-1 Serov Serovskaya GRES OGK-2 538 110 * Due to equipment remarking heat capacity of the station decreased from 227 Gcal/h as of 31 December 2013 to 90 Gcal/h as of 31 December 2014. OAO Gazprom Annual Report 2014
74 Performance Results OAO Mezhregionenergosbyt, a Gazprom Group company, is one of the leaders in the Russian power trading market. The company is active in power wholesale and retail markets, accounting for more than 95% of power consumed by Gazprom Group’s subsidiaries. Outside Russia, the Group owns the fifth power unit at the Razdanskaya TPP through its subsidiary ZAO Gazprom Armenia. Generation and distribution of power and heat In 2014, according to the Central Dispatching Department of Fuel and Energy Complex (CDU TEK), Russian electric output increased by 0.5% y-o-y to 1,057 billion kWh. Heat energy production increased by 3.7% y-o-y to 530.6 mm Gcal. The Group’s 2014 year-end Russian energy production was 154.6 billion kWh of power, or 4.3% less y-o-y, and 125.2 mm Gcal of heat energy, or 11.3% more y-o-y. The fuel mix of OOO Gazprom energoholding and its subsidiaries by volume 2013 2014 Gas, mmcm 44,333 41,508 including Gazprom Group’s gas 34,357 28,312 Coal, thousand tonnes 14,076 14,361 Fuel oil and other fuels, thousand tonnes 314 355 including Gazprom Group’s supplies 73 121 In the reporting year, optimised workload of inefficient power units and a lower demand for power were the key factors affecting power generation in the regions where the Group operates. Heat energy output increased through consolidation of OAO MIPC’s results after the Group took over control in September 2013. In 2014, the fifth power unit of the Razdanskaya TPP (Armenia) produced 0.86 billion kWh of electric power, driving Gazprom Group’s total output in the reporting year to 155.4 billion kWh. Gazprom Group’s contribution to the establishment of the charging infrastructure for electric vehicles in Moscow As part of constructing a network of charging stations for electric cars, the Moscow Government and OAO Mosenergo reviewed the legal aspects of deploying charging stations and arranged equipment procurement. Approvals are being obtained for connecting charging stations and preparations for construction and installation are under way. A number of charging stations have already been built and are successfully operating. In 2014, OAO Mezhregionenergosbyt sold 6.2 billion kWh of power to consumers outside the Group. The power generated by the Group’s Russian generating companies is sold on the 100% liberalised domestic wholesale power market. In 2014, power (capacity) end prices increased by 7–8% y-o-y on average. A small portion of generated power is exported to Norway and Finland. To meet its obligations during equipment shutdowns, including emergency repairs, the Group’s generating companies purchase additional power and heat on the wholesale market for resale. The Russian heat energy market is regulated. A new model of the heat energy market exists as a concept, with an approved roadmap providing for the development of a great number of regulations, mechanisms and proposals. Tentative calculations, and draft amendments to the Federal Law On Heat Supply have been prepared. In 2014, sales of power generated by the 5th power unit of the Razdanskaya TPP (Armenia) were 0.8 billion kWh. 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
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 and 72: 70 Performance Results Hydrocarbon
Page 73: 72 Performance Results Gazprom, on
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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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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