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GAZPROM

December 16, 2004

Gazprom’s Management Committee addresses corporate gas export strategy implementation in Europe

Gazprom’s Management Committee addressed the corporate gas export strategy implementation in Europe.

Gazprom’s core business departments were entrusted with developing a program on synchronized commissioning of resource and transmission capacities for 2006 to 2010 on the platform of forward-looking gas scheming to 2015.

By 2010, annual gas pipeline exports to Europe are projected to jump to not less than 180 bcm.

Reference:

Gazprom is the world’s largest natural gas exporter, meeting gas needs of 20 countries in Central and West Europe. Russian natural gas share in Europe’s gas consumption and imports currently accounts for 26% and 40%, respectively.

Gazprom’s sustainable standing on the European gas market is secured by the largest portfolio of Pay-or-Take long-term contracts, considerable resource base as well as constantly developing gas extraction and production capacities.

Given the present-day gas pricing, Gazprom’s gas supplies under existing long-term contracts average 2 tcm worth some USD 270 bln.

Between 2000 and 2004, corporate annual gas exports rose by an average of 9.2%, which is in line with gas consumption growth rates in Europe. All the gas volumes earmarked for exports are sold under competitive terms, with currency earnings increasing by 54% to USD 16.5 bln in 2003 and reportedly to roughly USD 17.8 bln over 2004. Gazprom’s 2004 and 2005 overall gas deliveries to outside the FSU are scheduled at some 143.4 and 145 bcm, respectively.

Up to 180 bcm annual gas export growth to Europe is planned to be achieved, in particular, by bringing the Yamal-Europe and Blue Stream gas pipelines to their design capacity as well as by gradually constructing the Bogorodchany-Uzhgorod gas pipeline. Special emphasis in further gas export build-up will fall upon the North-European gas pipeline.

Gazprom’s gas export strategy is centered on retaining the integrated gas export channel and long-term agreement systems along with using additional capabilities of promoting short-term and spot gas supplies.

Developed LNG production and marketing will substantially bolster Gazprom’s standing internationally. Combining LNG deliveries with well developed gas transmission and organizational structures will give a strong impetus for enhanced gas export efficiency along with simultaneous gas trading market diversification, which will allow Gazprom to access absolutely new markets, in particular, those of the USA and Asia Pacific.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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