SELECTED FINANCIAL INFORMATIONThe summary consolidated financial information set out below has been derived from <strong>Gazprom</strong>'saudited consolidated financial statements as for the years ended 31 December 2001, 2000 and1999 (the latest audited "Annual Data"), prepared in accordance with IAS. The U.S.$ amounts setout below were not included in the Annual Data and are provided for convenience only. Theyshould not be construed as representations that the Rouble amounts have been or could beconverted into U.S.$ at that or any other rate or as being representative of U.S.$ amounts thatwould have resulted if <strong>Gazprom</strong> reported its IAS financials in U.S.$.The Annual Data relating to the statement of operations data for 2001, 2000 and 1999 and to thebalance sheet data at 31 December 2001, 2000 and 1999 have been extracted from, and shouldbe read in conjunction with, the 2001 and 2000 Consolidated Financial Statements set out elsewherein this Offering Circular.Balance Sheet Data 31 December 31 December 31 December 31 December 31 December 31 December2001 2001 2000 2000 1999 1999In U.S.$ In RR In U.S.$ In RR In U.S.$ In RRmillions(1) millions(2)(3) millions(1) millions(2)(4) millions(3) millions???Accounts receivable and pre-payments 7,770 234,197 9,702 292,433 10,411 313,789Property, plant and equipment 51,388 1,548,823 50,512 1,522,441 50,266 1,515,023All other assets 11,913 359,071 13,923 419,604 9,226 278,073Total assets 71,071 2,142,091 74,137 2,234,478 69,903 2,106,885Accounts payable and accrued charges,short-term loans and currant portion oflong- term borrowings (includingpromissory notes) 11,017 332,044 10,040 302,606 8,005 241,276Taxes payable 1,826 55,048 4,513 136,029 6,371 192,015Long-term borrowings (Includingpromissory notes) 7,414 223,463 8,320 250,772 11,054 333,156All other liabilities 1,211 36,487 1,676 50,500 5,865 176,776Minority Interest in subsidiaries 501 15,104 344 10,355 293 8,819Shareholders equity and reserves 49,102 1,479,945 49,244 1,484,214 38,316 1,154,842Total liabilities and equity 71,071 2,142,091 74,137 2,234,478 69,903 2,106,885Statement of Operations Year ended Year ended Year ended Year ended Year ended Year ended31 December 31 December 31 December 31 December 31 December 31 December2001 2001 2000 2000 1999 1999In U.S.$ In RR In U.S.$ In RR In U.S.$ In RRmillions(1) millions??? millions(1) millions(3)(4) millions(4) millions???Sales 20,548 619,325 21,286 641,520 15,777 475,530Operating expenses (14,451) (435,565) (16,034) (483,258) (14,674) (442,261)Operating profit (loss) 6,097 183,760 5,251 158,262 1,103 33,269Net finance costs (474) (14,283) (848) (25,562) (2,595) (78,201)Share of net Income (losses) of associatedundertakings 118 3,567 25 755 (23) (702)Losses on available-for-saleInvestments (29) (863) (88) (2,666) - -Profit (loss) before gain on net monetaryposition, profit tax and minority interest 5,712 172,181 4,340 130,789 (1,515) (45,633)Monetary gain 966 29,113 1,739 52,406 2,427 73,143Current Profit tax expense (2,737) (82,486) (2,729) (82,249) (1,163) (35,060)Deferred Profit tax benefit (expense) (3,408) (102,705) 7,991 240,854 (3,495) (105,349)Minority interest (153) (4,638) (60) (1,601) (9) (261)Net profit (loss) 380 11,465 11,281 339,999 (3,755) (113,160)Earnings (loss) per share (in USdollars/Roubles) 0.02 0.54 0.54 16.16 (0.18) (5.36)Notes:(1) The U.S.$ amounts shown above have been translated from the Rouble amounts at the rate of RUR 30.14 = U.S.$1.00, which was the rate published bythe Central Bank of Russia on 31 December 2001.(2) The selected Rouble financial data should also be read in conjunction with the more detailed consolidated financial statements set out elsewhere in thisOffering Circular.(3) Extracted from the 2001 Consolidated Financial Statements.(4) Extracted from the 2001 Consolidated Financial Statements in order to reflect opening balance sheet adjustments and other financial statementsreclassification required by the adoption of a new accounting standard (IAS 39 "Financial Instruments").(5) Extracted from the 2000 Consolidated Financial Statements restated for changes in the general purchasing power of the Russian Rouble in accordancewith International Accounting Standard 29 "Financial Reporting in Hyperinflationary Economies" with all amounts stated in terms of the measuring unitcurrent at 31 December 2001.16
OTHER SELECTED FINANCIAL INFORMATIONThe following selected financial data has been extracted, save as set out below, from, and shouldbe read in conjunction with, the Annual Data. The U.S.$ amounts set out below were not includedin the Annual Data and are provided for convenience only. They should not be construed asrepresentations that the Rouble amounts have been or could be converted into U.S.$ at that orany other rate or as being representative of U.S.$ amounts that would have resulted if <strong>Gazprom</strong>reported its IAS financials in U.S.$.Analysis of Gas Sales (including excise tax, net of VAT)2001 2000 1989Europe FSU Russia Total Europe FSU Russia Total Europe FSU Russia TotalRUR 452,265 48,837 115,694 616,796 473,298 69,503 102,477 645,278 303,509 76,445 108,958 488,912U.S.$(1) 15,005 1,620 3,839 20,464 15,703 2,306 3,400 21,409 10,070 2,536 3,615 16,221Notes:(1) The U.S.$ amounts shown above have been translated from the Rouble amounts at the rate of RUR 30.14 = U.S.$1.00, which was the rate published bythe Central Bank of Russia on 31 December 2001.17
- Page 1: OFFERING CIRCULARJOINT-STOCKCOMPANY
- Page 4 and 5: classifications and methodologies,
- Page 6 and 7: INVESTMENT CONSIDERATIONSAn investm
- Page 8 and 9: Relationship with the GovernmentThe
- Page 10 and 11: elation to its assets and operation
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- Page 14 and 15: TRANSACTION SUMMARYThe transaction
- Page 18 and 19: CAPITALISATIONThe following table s
- Page 20 and 21: OAO GAZPROMPrivatisation and Format
- Page 22 and 23: Gazprom Shares. The Presidential De
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- Page 40 and 41: The following table sets out, as at
- Page 42 and 43: een put on stream at the Astrakhans
- Page 44 and 45: Orenburg Helium Plant. This is Russ
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- Page 52 and 53: major natural gas distributor in ea
- Page 54 and 55: Other foreign associate undertaking
- Page 56 and 57: Gazprom has developed and continues
- Page 58 and 59: LOAN AGREEMENTThe following is the
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the amount of any such payment and
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necessary to compensate the Bank fo
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9.1.15 In any proceedings taken in
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10.6 Payment of Taxes and Other Cla
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ankruptcy law, or (iii) a bankruptc
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execution of this Agreement and all
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14.8 Contracts (Rights of Third Par
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TERMS AND CONDITIONS OF THE NOTESTh
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Under the Trust Deed, the obligatio
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Payments of interest shall be made
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The Trustee may agree, without the
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SUMMARY OF PROVISIONS RELATING TO T
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circumstances, if the disposal proc
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SALOMON BROTHERS AGThe Bank is lice
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GENERAL INFORMATION1. The Notes rep
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force is being formed to gradually
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to address these pressures. First,
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Balance of PaymentsThe following ta
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understanding that it would serve a
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GeneralAPPENDIX B - PART 1 - OVERVI
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most important recent piece of legi
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integrated objects managed on a cen
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• price regulation - setting pric
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APPENDIX B — PART II — EXTRACT
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APPENDIX C - GLOSSARY OF TERMS"Acco
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"State Gas Concern Gazprom"the Stat
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OAO GAZPROMIAS CONSOLIDATED FINANCI
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OAO GAZPROMIAS CONSOLIDATED BALANCE
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OAO GAZPROMIAS CONSOLIDATED STATEME
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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PRlCEWATERHOUSECOOPERSZAO Pricewate
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OAO GAZPROMIAS CONSOLIDATED STATEME
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OAO GAZPROMIAS CONSOLIDATED STATEME
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMNOTES TO THE IAS CONSOLI
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OAO GAZPROMINVESTOR RELATIONSThe Co
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LEGAL ADVISERSTo the CompanyAs to R
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