Open Joint Stock Company Gazprom

More documents

Recommendations

Info

The current membership of Gazprom's Management Committee is as follows:Year ofName Birth PositionA. Miller 1962 Chairman of the Management CommitteeA. Ananenkov 1952 Deputy Chairman of the Management CommitteeE. Vasilieva 1959 Deputy Chairman of the Management Committee; ChiefAccountantY. Komarov 1945 Deputy Chairman of the Management CommitteeS. Lukash 1957 Deputy Chairman of the Management CommitteeA. Ryazanov 1953 Deputy Chairman of the Management CommitteeB. Yurlov 1948 Deputy Chairman of the Management CommitteeM. Akselrod 1946 Management Committee Member (Capital Constructionand Equipment and Technical Supplies)B. Budzulyak 1946 Management Committee Member (TransportationSystem)A. Krasnenkov 1961 Management Committee Member (PropertyManagement)A. Kruglov 1969 Management Committee Member (Head of CorporateFinance)N. Gornovsky 1958 Management Committee Member, MezhregiongasGeneral DirectorV. Rezunenko 1935 Management Committee Member (Long-TermDevelopment Planning)N. Guslisty 1933 Deputy Chairman of the Management CommitteeV. Ilyushin 1947 Management Committee Member (Regional Policy)V. Leviev 1956 Management Committee Member, GazkomplectimpexGeneral DirectorA. Medvedev 1955 Management Committee Member, Gazexport GeneralDirectorV. Podyuk 1946 Management Committee Member (Gas, Gas Condensateand Oil Production)K. Seleznev 1974 Management Committee Member (Marketing, Gas andLiquid Hydrocarbons Processing)K. Chuichenko 1965 Management Committee Member (Legal)The cumulative direct ownership of shares by the members of Gazprom's ManagementCommittee and the Board of Directors in Gazprom Shares is 0.014% and less than 0.001%,respectively.EmployeesIn 2001, Gazprom's work force broken down by area of employment was as follows(1):Number ofType of ActivitiesEmployeesConstruction 29,943Exploration and drilling 15,224Gas transportation 107,363Production and processing 46,026Other 118,713Total 317,269Note:(1) These figures represent average employee count for the year 2001.28
BUSINESSPrincipal MarketsOverviewGazprom is the world's largest exporter of natural gas. Gazprom exports natural gas through itswholly-owned trading subsidiary, Gazexport, on an agency basis. Exports of gas condensate, oil and oilproducts are also made through Gazexport.Gazprom is currently the only supplier of Russian natural gas to Europe. According to CEDIGAZ— "Natural Gas in the World — 2001", Survey August 2002, it supplied 20.9% of natural gas consumedin Western Europe and 57.3% of natural gas consumed in Central and Eastern Europe in 2001. In 2001,Gazprom delivered 127.0 bcm of natural gas to Europe of which Western Europe accounted for 86.6bcm and Central and Eastern Europe accounted for 40.4 bcm. Germany, Italy, France, Turkey, the CzechRepublic, Slovakia, Hungary, Poland, Austria and Finland accounted for Gazprom's largest exportmarkets in Europe. Gazprom is actively looking to increase its European exports through investmentsin joint ventures, such as Wingas in Germany and Gazum Oy in Finland (see "International Projects andAlliances").In 2001, Gazprom supplied substantially all of the natural gas consumed in Russia and asignificant amount of the natural gas consumed in the Ukraine, Belarus, Moldova, Lithuania, Latvia andEstonia. Natural gas deliveries to consumers in Russia and to countries in the FSU accounted for 278.9bcm and 39.6 bcm of natural gas in 2001, respectively. Ukraine and Belarus are the largest consumersof natural gas supplied by Gazprom in the FSU.The following table sets out Gazprom's natural gas deliveries by geographical market.Year Ended 31 December6 monthperiodended30 JuneGas Deliveries 1999 2000 2001 2002(bcm) (bcm) (bcm) (bcm)Western Europe 88.4 90.4 86.6 44.8Central and Eastern Europe 38.4 38.6 40.4 21.0Total Europe 126.8 129.0 127.0 65.8FSU 47.2 43.4 39.6 23.1Russia 260.1 255.0 282.1 145.4Total Russia and FSU 307.3 298.4 321.7 168.5Total 434.1 427.4 448.7 234.3Source: Gazprom.Industry experts believe that natural gas is gaining an increasing share of the world energymarket as a result of it being an effective and environmentally clean fuel. According to the BP StatisticalReview of World Energy (June 2002), natural gas consumption, as a percentage of energy consumptionin Europe, has increased in recent years and Gazprom expects this trend to continue. This is primarilydue to the growth in natural gas-fired power generating capacity, an increase in the use of natural gasin the domestic sector (particularly in Central and Eastern Europe), a decline in the attractiveness ofnuclear power and environmental considerations (which have reduced the attractiveness of fuels suchas coal). In 2002, natural gas consumption accounted for approximately 22.4% of energy consumptionin Western Europe and approximately 23.5% in Central and Eastern Europe. The following table setsforth energy and natural gas consumption in Gazprom's principal markets for the period from 1999 to2001 as well as the percentage of natural gas consumed as a proportion of total energy in such marketsfor each year.29
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 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:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
PRlCEWATERHOUSECOOPERSZAO Pricewate
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 200 and 201:
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?