Gazprom-AR2014

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Performance Results 81 Gazprom Group’s gas sales to the FSU countries, bcm 19.8 19.6 0.7 0.4 Estonia 25.8 Russia Russia Belarus 14.5 1.1 1.0 Latvia 2.4 2.8 Moldova Ukraine 4.7 5.1 Kazakhstan Russia 2.7 2.5 Lithuania Belarus 0.2 0.3 0.1 — 0.3 — Kyrgyzstan Georgia Uzbekistan 1.7 1.8 Turkey Armenia Azerbaĳan Turkmenistan Tajikistan Gas sales in 2013 Gas sales in 2014 In 2014, Gazprom Group’s share in the total consumption by the FSU countries was 58%. At the same time, as in previous years, in 2014 Gazprom Group covered 100% of natural gas demand in Moldova, Latvia, Lithuania and Estonia. Besides Russia, the FSU countries Turkmenistan, Uzbekistan, Kazakhstan and Azerbaijan are also natural gas exporters. In 2014, the total volume of natural gas exports by these countries was about 77 bcm. Within the framework of gas marketing cooperation, Gazprom Group continued purchasing natural gas from Central Asian countries and Azerbaijan in 2014. Gazprom Group’s share in natural gas exports from Central Asia and Azerbaijan is 38%. China is another major player in the Central Asian gas market. OAO Gazprom Annual Report 2014
82 Performance Results Oil and gas condensate sales In 2014, the Group’s revenue from sales of crude oil and stable gas condensate was RUB 250.4bn (net of VAT and other charges), with 19.4 mm tonnes sold. Oil and gas condensate sales volume, mm tonnes Total Russia 2012 27.7 10.4 2013 21.8 8.4 2014 19.4 8.4 Far abroad countries FSU countries 2012 14.8 2.5 2013 9.2 4.2 2014 9.8 1.2 Revenue from sales of oil and gas condensate (net of VAT and other charges), RUB bn Total Russia 2012 351.0 116.2 2013 273.9 95.8 2014 250.4 92.8 Far abroad countries FSU countries 2012 204.6 30.2 2013 128.0 50.1 2014 141.6 16.0 Sales of liquid hydrocarbons to FSU countries declined due to the cancellation of Gazprom neft’s oil sales to Kazakhstan. The volumes freed up in this way were sold in the domestic market, or supplied to the Group’s oil refineries in Russia, or exported to far abroad countries. Export sales of liquid hydrocarbons to far abroad countries also grew due to the increased oil production in Russia. In 2014, c. 95% of OAO Gazprom’s stable gas condensate were sold on the domestic market to the Group companies (mostly to OAO Gazprom neftekhim Salavat). According to PIRA, Urals prices (arithmetic mean of Urals Mediterranean and Urals Rotterdam) in 2014 fluctuated between USD 53.4 and USD 112.4 per barrel, decreasing by 51% to USD 53.4 per barrel by the year-end. In 2014, the oil spot prices in roubles in the Russian market were higher than the average 2013 price by c. 9% (according to Argus). In 2014, prices fluctuated between RUB 12,200 per tonne and RUB 14,900 per tonne, inclusive of VAT (free in pipeline, Nizhnevartovsk) dropping to their extreme lows in November and deviating by 18% from the annual peaks. Although undoubtedly linked to the fluctuations of global prices for energy resources, Russian domestic oil and stable gas condensate prices are, in many aspects, determined by domestic factors such as seasonal supply and demand, refinery downtimes, and price trends on the refined products market, as well as dramatically changing RUB/USD exchange rate. Refined product sales In 2014, the total sales of Gazprom Group’s oil and gas refined products were 75.4 mm tonnes, i.e. a 10.4% increase y-o-y. Revenue from sales of oil and gas refined products reached RUB 1,618.6bn (net of VAT, excise and other charges), i.e. showed a 19.8% increase y-o-y. 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
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 and 74: 72 Performance Results Gazprom, on
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: 80 Performance Results In accordanc
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
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
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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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