print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all GAZPROM press releases

GAZPROM

February 4, 2004

Board of Directors examined gas production and transportation subsidiaries’ pricing policy

Gazprom’s Headquarters host a Board of Directors’ meeting.

The Board of Directors took into account information on the corporate gas pricing policy.

Gazprom’s Management Committee was commissioned to elaborate, jointly with relevant federal bodies, measures on improving corporate gas pricing (tariffs) fundamentals and on managing gas production and transportation subsidiaries’ expenditures.

Reference:

Gazprom builds up its relationship with subsidiaries based on gas sales contracts and gas transportation services, with corporate prices and tariffs applied.

In determining gas tariffs and prices, the Company takes into account its subsidiaries’ expenditures on gas production, transportation and storage (mining-geological and economic-geographical conditions, subsidiaries operate in, are also taken into consideration); the scope of the works done; major assets status; as well as minimum profits regulated by the Parent Company.

In 2002-2004 the growth of corporate gas prices and tariffs is expected not to be as high as the price boost in the manufacturing sector. Gas transportation and production subsidiaries’ net profits for 2004 are estimated at 1.5% and 2.7%, respectively.

In 2004 Gazprom plans to raise tariffs on gas transportation via gas mains by 7.4%, the industrial deflator index to be at 9%.

The internal gas pricing, not taking into account changes in the subsidiaries’ taxation (gas production tax rate is expected to go up 3.8 fold from RUR 28.3 to RUR 107 per 1000 cubic meters), is believed to grow 0.6% in 2004.

Gazprom intends to improve its corporate gas pricing by enhancing its subsidiaries’ expenditure control and management system as well as by contracting services through a contest-based system.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer