Open Joint Stock Company Gazprom

More documents

Recommendations

Info

OAO GAZPROMNOTES TO THE IAS CONSOLIDATED FINANCIAL STATEMENTS(In millions of Russian Roubles in terms of the equivalent purchasing power of the Rouble asof 31 December 2001)26 RELATED PARTIES–(Continued)Years ended31 DecemberOperating expenses include: 2001Materials 16,514Purchases and processing of refined products 14,945External processing of refined products 10,941Provision for impairment and write-off of other long-term assets 5,189Impairment provision for accounts receivable and debts written off 5,147Purchased gas 2,679Other 2,52057,935A substantial portion of OAO AK Sibur's transactions were executed with related parties. OAO AKSibur's related party transactions included those with its associated undertakings and the followingcompanies:ZAO Gazoneftekhimicheskaya CompanyaMegler GroupOAO OmskshinaPetrochemical Holding AGOAO SaiavatnefteorgsintezOAO Tobolskiy NKhKOAO Tomsky NKhZOAO VoronezhsyntezkauchukOAO Yaroslavskiy Shinniy ZavodIn the first quarter of 2002 external supervision has been introduced in respect of OAO AK Siburunder decision of the arbitration court. The arbitration court has cancelled the decision on placement ofadditional stock issue as a result of which OAO Gazprom could nave lost control over OAO AK Sibur.OAO Gazprom maintains control over OAO AK Sibur.OAO StroytransgazIn the normal course of business, the Group enters into transactions with OAO Stroytransgaz forthe construction of pipelines in the Russian Federation on the basis of the results of tenders. During theyears ended 31 December 2001 and 31 December 2000 certain representatives of the Group Board ofDirectors and members of their families owned significant shareholdings in OAO Stroytransgaz.OAO Stroytransgaz rendered construction services for the Group in the amounts of RR 41,135and RR 28,141 for the year ended 31 December 2001 and 2000, respectively. As of 31 December 2001and 31 December 2000, the Group had advances and receivables due from OAO Stroytransgaz in theamounts of RR 7,390 and RR 2,015, respectively. As of 31 December 2001 and 31 December 2000,the Group had accounts payable to OAO Stroytransgaz in respect of construction of RR 16,166 and RR10,826, respectively. Included within other long-term assets is a receivable due from OAO Stroytransgazin connection with finance arrangements for construction for the Group undertaken by OAOStroytransgaz in the amount of RR 3,518 and RR 6,944 as of 31 December 2001 and 31 December2000.AEBIn 2001 and 2000 the Group raised short-term loans from AEB, an associated undertaking of ABGazprombank (ZAO), for the total amount of RR 2,939 (11.0% — 14.8% p.a.) and RR 2,923 (12.5%p.a.), respectively.F-80
OAO GAZPROMNOTES TO THE IAS CONSOLIDATED FINANCIAL STATEMENTS(In millions of Russian Roubles in terms of the equivalent purchasing power of the Rouble asof 31 December 2001)26 RELATED PARTIES–(Continued)OOO InterprokomDuring the years ended 31 December 2001 and 2000, respectively, certain members of thefamilies of certain members of the Board of Directors of the Company owned significant interests inOOO Interprokom.OOO Interprokom acts as an agent for the Group in the acquisition of equipment and isremunerated for those services based on a fixed commission percentage. OOO Interprokom acted asan agent in the Group's acquisition of RR 10,086 and RR 5,482 of equipment year ended 31 December2001 and 2000, respectively. As of 31 December 2001 and 2000, the Group had advances andreceivables due from OOO Interprokom in the amount of RR 565 and RR 2,910, respectively.Commission paid to OOO Interprokom amounted to RR 93 and RR 72 for year ended 31 December2001 and 2000, respectively. As of 31 December 2001 and 2000, the Group had accounts payable toOOO Interprokom in respect of equipment supplies of RR 7,564 and RR 6,050, respectively.AB Gazprombank (ZAO), the Group's principal banking subsidiary, had outstanding import lettersof credit issued on behalf of OOO Interprokom and sub-contractors of OOO Interprokom in the amountof RR 8,470 and RR 9,630 as of 31 December 2001 and 2000 and, respectively. These import lettersof credit are issued to third party suppliers in connection with the purchase of equipment by OOOInterprokom on behalf of the Group.27 COMMITMENTS AND CONTINGENCIESOperating environmentThe operations and earnings of the Group continue, from time to time and in varying degrees, tobe affected by political, legislative, fiscal and regulatory developments, including those related toenvironmental protection, in the Russian Federation. Due to the capital-intensive nature of the industry,the Group is also subject to physical risks of various kinds. The nature and frequency of thesedevelopments and events associated with these risks as well as their effect on future operations andearnings, are not predictable.Legal proceedingsThe Group is a party to certain legal proceedings arising in the ordinary course of business.Additionally, the Group is subject to various environmental laws regarding handling, storage, anddisposal of certain products and is subject to regulation by various governmental authorities. In theopinion of management, there are no current legal proceedings or other claims outstanding which couldhave a material adverse effect on the result of operations or financial position of the Group.TaxationTax legislation in the Russian Federation is subject to varying interpretations and frequentchanges. Further, the interpretation of tax legislation by tax authorities of as applied to the transactionsand activity of the Group may not coincide with that of management. As a result, transactions may bechallenged by tax authorities and the Group may be assessed additional taxes, penalties and interest,which can be significant. Under Russian legislation, penalties are levied at 20% of the tax amountunderpaid and interest is charged at a rate of 1/300 of the refinancing rate of the Central Bank of theRussian Federation per day (see Note 14). The Group's tax records remain open to review by the taxand customs authorities with respect to tax liabilities for three years.F-81
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
Page 12 and 13:
Ethnic and religious differences in
Page 14 and 15:
TRANSACTION SUMMARYThe transaction
Page 16 and 17:
SELECTED FINANCIAL INFORMATIONThe s
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
Page 24 and 25:
Gazprom's main subsidiaries were, a
Page 26 and 27:
Management StructureIn accordance w
Page 28 and 29:
The current membership of Gazprom's
Page 30 and 31:
1999 2000 2001(mtoe, except for per
Page 32 and 33:
Central and Eastern EuropeGazprom e
Page 34 and 35:
U.S.$43 million and from those cust
Page 36 and 37:
Country% OFEUROPEANNATURALGAS SUPPL
Page 38 and 39:
As at 31 December 2000, proved and
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
Page 46 and 47:
The following table sets forth some
Page 48 and 49:
Gazprom provides the independent su
Page 50 and 51:
INTERNATIONAL PROJECTS AND ALLIANCE
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
Page 60 and 61:
"Notes" means the U.S.$500,000,000
Page 62 and 63:
"Subsidiary" means, with respect to
Page 64 and 65:
5 Repayment and Prepayment5.1 Repay
Page 66 and 67:
the amount of any such payment and
Page 68 and 69:
necessary to compensate the Bank fo
Page 70 and 71:
9.1.15 In any proceedings taken in
Page 72 and 73:
10.6 Payment of Taxes and Other Cla
Page 74 and 75:
ankruptcy law, or (iii) a bankruptc
Page 76 and 77:
execution of this Agreement and all
Page 78 and 79:
14.8 Contracts (Rights of Third Par
Page 80 and 81:
TERMS AND CONDITIONS OF THE NOTESTh
Page 82 and 83:
Under the Trust Deed, the obligatio
Page 84 and 85:
Payments of interest shall be made
Page 86 and 87:
The Trustee may agree, without the
Page 88 and 89:
SUMMARY OF PROVISIONS RELATING TO T
Page 90 and 91:
circumstances, if the disposal proc
Page 92 and 93:
SALOMON BROTHERS AGThe Bank is lice
Page 94 and 95:
GENERAL INFORMATION1. The Notes rep
Page 96 and 97:
force is being formed to gradually
Page 98 and 99:
to address these pressures. First,
Page 100 and 101:
Balance of PaymentsThe following ta
Page 102 and 103:
understanding that it would serve a
Page 104 and 105:
GeneralAPPENDIX B - PART 1 - OVERVI
Page 106 and 107:
most important recent piece of legi
Page 108 and 109:
integrated objects managed on a cen
Page 110 and 111:
• price regulation - setting pric
Page 112 and 113:
APPENDIX B — PART II — EXTRACT
Page 114 and 115:
APPENDIX C - GLOSSARY OF TERMS"Acco
Page 116 and 117:
"State Gas Concern Gazprom"the Stat
Page 118 and 119:
OAO GAZPROMIAS CONSOLIDATED FINANCI
Page 120 and 121:
OAO GAZPROMIAS CONSOLIDATED BALANCE
Page 122 and 123:
OAO GAZPROMIAS CONSOLIDATED STATEME
Page 124 and 125:
OAO GAZPROMNOTES TO THE IAS CONSOLI
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147: OAO GAZPROMNOTES TO THE IAS CONSOLI
Page 158 and 159: PRlCEWATERHOUSECOOPERSZAO Pricewate
Page 160 and 161: OAO GAZPROMIAS CONSOLIDATED STATEME
Page 162 and 163: OAO GAZPROMIAS CONSOLIDATED STATEME
Page 202 and 203: OAO GAZPROMINVESTOR RELATIONSThe Co
Page 204 and 205: LEGAL ADVISERSTo the CompanyAs to R
Page 206: printed by eprintfinancial.comtel:
show all

Open Joint Stock Company Gazprom

Create successful ePaper yourself

Delete template?

Save as template?