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GAZPROM

July 22, 2004

Results of Alexey Miller and Magomedali Magomedov’s working meeting

A working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Magomedali Magomedov, Chairman of the State Council of the Republic of Daghestan was held today at Gazprom’s Headquarters.

The parties debated the implementation of the Cooperation Agreement concluded between Gazprom and Daghestan. Alexey Miller drew Magomedali Magomedov’s attention to the need to step up urgent measures aimed at enhancing the actual gas payment discipline and repaying the Republican old gas debt.

The meeting achieved an accord to produce a Protocol prescribing all measures to be taken for settling the previous gas debt and ensuring timely payments for current gas deliveries. In particular, to partially clear Daghestan’s gas arrears, the parties will approach potential conveyance of title to Daghestan-owned gas facilities to Gazprom’s subsidiaries. In addition, Daghestanregiongaz’s customer service agencies will be put in charge of collecting gas payments in the Republican regions that have so far failed to submit those.

Reference:

Gazprom and the Republic of Daghestan entered into a 5-year Cooperation Agreement on 1 September 2003.

As of 1 July 2004, Daghestan’s overall gas debt to Gazprom averaged RUR 2.6 billion, some RUR 600 million up on 1 January 2004. The gas debt basically accrued due to non-payments on the part of the population, amounting to RUR 1.45 billion (55.9% of the total gas indebtedness). Daghestani state-run bodies, utilities and other gas consumers (the fuel and power sector, inclusive) owe Gazprom RUR 56.92 million (2.2%), RUR 154.09 million (6%) and RUR 910.11 million (35.9%), respectively. This year, the Republic hasn’t forwarded yet payments for natural gas it received between 1994 and 2003.

Current gas deliveries to Daghestan are being paid for at 50.8%, with full gas payments being submitted by budget-financed entities.

The Republican budget for 2004 envisages RUR 282 million (or 75% of overall investment needs) being allocated for offsetting gas subsidies granted to privileged consumers.

Daghestan’s gas supply network is developed at 69.7% of maximum gas demand, including 95.2%, in towns and cities and 51.2%, in rural area. The same parameters throughout Russia account on an average for 52.7%, 60.2% and 33.1%, respectively. Gazprom’s 2004 Program on gas supply expansion in the RF regions does not prescribe investment of funds into the Daghestani gas transmission system development.

Daghestan is part of the RF Southern Federal District where gas debt remains to be the highest in Russia and, as of 1 July 2004, exceeded RUR 12 billion, which is about 5fold more than Daghestan’s total gas arrears.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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