SkyMinder.com Financial and Credit Report

Information in this report is for sample purposes only. Individual items included only when available.

Identification
Name : Otkritoe Aktsionernoe Obschestvo "Gazprom"
IGK-number : 799-108-878
Name in English : Public Joint Stock Company "Gazprom"
Original name :

Short style: OAO "Gazprom"

Address :
Nametkina 16, Moscow, 117884, Russian Federation

Legal Address :
Nametkina 16, Moscow, 117884, Russian Federation

Contacts :
- Phone : (+7 495) 7193001, 7194403, 7194774,7192151
- Fax : (+7 495) 7198333,7198335
- E-mail : gazprom@gazprom.ru
- URL : www.gazprom.ru


S U M M A R Y

Legal Form : OAO (Public joint-stock company)

Established : 1992 Employees : 5 591 Defaults registered : yes
Remarks on payments : n/a

Net Sales : 1 185 836 552.00 th RUB ( for 9 months, ended 01.10.2006 )
1 231 262.00 mio RUB ( for 12 months, ended 01.01.2006 )

Credit Opinion
Credit rating : [4] Old established business. Commitments honoured.
Credit value : We are unable to estimate exact sum of maximum credit due to the fact that the subject is a large-scale company. The company is considered solvent for credits within its scope of business.
Conclusion : Business relations are suitable.



Year of Foundation : 1992

Registration Data
Date of registration : 02.08.2002
Registration number : 1027700070518
Registr. authority : Ministry for Taxes and Duties (Moscow, Russian Federation)

Tax-payer code : 7736050003
Registr. authority : Tax Office (Russian Federation)

Statistics code : 00040778
Registr. authority : Statistics Board (Russian Federation)

Legal Form :
OAO (Public joint-stock company) since 23.07.1998

Share Capital :
118 367 564 th RUB (registered) since 23.08.1999

Shareholders :
- Federal Agency for Management with Property / (Rosimuschestvo) (Russian Federation) 38.37 %
address : Moscow, Russian Federation

- The Bank of New York (United States of America) 11.00 %

- OAO Rosneftegaz (Russian Federation) 10.74 %
reg. number : 7705630445

Total numbers of shareholders at 01.10.2006: 52 182, among them: - legal persons: 39; - private persons: 52 143; - nominal holders: 13.

Board / Executives

Executives
Chairman of the Supervisory Board :
Mr Medvedev, Dmitry Anatolievich (Russian Federation)
born 1965.
Chairman of the board :
Mr Ananenkov, Aleksandr Georgievich (Russian Federation)
Member of the Supervisory Board :
Mr Gazizulin, Farit Rafikovich (Russian Federation)
Member of the Supervisory Board :
Mr Gref, German Oskarovich
born 1964.
Deputy chairman of the supervisory board :
Mr Miller, Aleksey Borisovich (Russian Federation)
born 1962.
Member of the board :
Mr Bergmann, Burkchard
He is also a chairman of Ruhgas AG board.
Member of the board :
Mr Fedorov, Boris Grigorievich (Russian Federation)
Member of the board :
Mr Hristenko, Viktor Borisovich (Russian Federation)
Member of the board :
Mr Sereda, Mikhail Leonidovich (Russian Federation)
Member of the board :
Mr Yusufov, Igor Hanukovich (Russian Federation)
He is also a Minister of Energetics of RF

Signature Right : Mr Miller, Aleksey Borisovich

Changes in Registration Data
- 11.01.2005 :
“hanges (not specified)

- 30.12.2004 :
changes (not specified)

- 09.01.2004 :

- 02.08.2002 :
share capital, shareholders

- 23.08.1999 :
share capital, shareholders
former value of share capital: 236 735 129 RUB

- 23.07.1998 :
legal form

- 07.08.1997 :
shareholders
former stareholder: GOSKOMIMUSCHESTVO (State Committee for Management with Property)

- 01.07.1996 :
legal address
previous address: 117939 Moscow, Stroiteley 8, block 1

- 26.07.1995 :
legal form, share capital

- 25.02.1993 :
initial registration of company as State gas concern 'Gasprom'

Activities :
- 13 OIL AND GAS EXTRACTION

Industrial complex of gas search, processing, warehousing, transportation and supply; construction activities; scientific research. The company is the only such company at the territory of Russian Federation. Gazprom's operations range from exploration through to processing, transportation and marketing. Gazprom is the world's biggest gas company which accounts for 94% of Russia's gas production (23% of the world output). Gazprom produces about 8% of the country's GDP and contributes about 25% of all tax revenues to the federal budget. Gazprom unites into an integral technological and organizational structure more than 40 subsidiaries and a number of companies with Gazprom's participation. Together they ensure the entire cycle of operations with gas and accompanying raw materials-from production of its own equipment, geological prospecting and drilling to consumer deliveries. Apart from the extraction of gas at prospected fields, the Company also develops new ones and builds trans-continental gas pipelines. Apart from that, the Company produces unique equipment for its own needs, builds up its production of chemical and other products, including in cooperation with partners. It is engaged in a lot of work with the regions of the Russian Federation, and continues to carry out its large-scale programs of providing new territories with gas.

Employees :
5 591
( the data as of 01.10.2006 )

Employees History :
- 5 430
( the data as of 01.07.2005 )

- 5 194
( the data as of 01.01.2004 )

- 4 444
(employed by headquarters)
( the data as of 01.01.2003 )

Export
- 01.04.2006 :
Fiscal period: 3 month(s), currency: RUB 269 258 450.00

- 01.01.2005 :
Fiscal period: 12 month(s), currency: RUB, th 512 852 631.00

- 01.01.2004 :
Fiscal period: 12 month(s), currency: RUB, th 603 480 565.00

: Ukraine, Belarus, Moldova, Kazakhstan, Georgia, Latvia, Lithuania, Estonia, Germany, Italy, France, Austria, Turkey, Finland, Switzerland, Czechia, Slovakia, Poland, Hungary, Romania, Bulgaria, Croatia, Bosnia Herzegovina, Yugoslavia, Belgium
Natural gas.

Gazprom is the world's biggest gas exporter. Its deliveries cover about 20% of the natural gas requirements of Western Europe and almost all the needs of Eastern Europe. Practically all GAZPROM's agreements and contracts with foreign partners are concluded on the basis of the long-term perspective. Along with the traditional direction of its exports, Gazprom is actively developing the southern direction. The biggest project there is the Blue Stream major project which provides for the construction of a gas pipeline across the Black Sea to Turkey. Apart from that, a contract has been initiated with India's Ministry of Oil and Natural Gas for the prospecting for, development and operation of a major gas field on the Bay of Bengal shelf. The Far Eastern region-China, Korea and Japan are becoming a new promising gas market for Gasprom. According to forecasts of the World Energy Council, Russia's share in the international gas trade will total 30-35% by the year 2020.

Import
- 01.08.2005 :
Fiscal period: 7 month(s), currency: RUB, th 400 822 242.00

- 01.01.2004 :
Fiscal period: 12 month(s), currency: RUB, th 59 429 688.00

: Europe
Equipment, consumer goods.

Known Assets
Immovable Property :
own:
- Land, buildings, premises
size/amnt : 100 000.00 sq.m [E]
address : Moscow, Russian Federation

long-term rent:
- Land
size/amnt : 10.00 ha [E]
address : Nametkina 16, Moscow, 117884, Russian Federation

Other Property :
own:
- FIXED ASSETS
value : 1 252 980.00 mio RUB

- Equipment

- Other tools & equipment - Transport vehicle

Branches : Several dozens subsidiaries all over the Russian Federation, where GAZPROM share is 100%. Several dozens companies, where GAZPROM's share varies from several percents to 100%.

Participation :
- Uraltransgaz (Russian Federation) 100.00 %

- Zarubezhgaz Erdgashandel GmbH (Germany) 100.00 %
address : Berlin, Germany

- YAMALGAZINVEST (Russian Federation) 100.00 %
address : Moscow, Russian Federation

- Bashtrangaz (Russian Federation) 100.00 %

- GAZEKSPORT (Russian Federation) 100.00 %
address : Moscow, Russian Federation

- GAZKOMPROMSELSTROY (Russian Federation) 100.00 %
address : Moscow, Russian Federation

- GAZKOMPLEKTIMPEKS (Russian Federation) 100.00 %
reg. number : 1027700501113
address : Stroiteley str. 8, bldg. 1, Moscow, 119991, Russian Federation

- Astrahangazprom (Russian Federation) 100.00 %
address : Krasnoyarsk region, Astrahan oblast, Russian Federation

- Dagestangazprom (Russian Federation) 100.00 %

- Severgazprom (Russian Federation) 100.00 %

- Samaratransgaz (Russian Federation) 100.00 %
address : Samara, Russian Federation

- Permtransgaz (Russian Federation) 100.00 %
address : Perm, Russian Federation

- Orenburggazprom (Russian Federation) 100.00 %
address : Orenburg, Russian Federation

- Nadimgazprom (Russian Federation) 100.00 %
address : Nadim, Tyumen oblast, Russian Federation

- Mostransgaz (Russian Federation) 100.00 %
address : Moscow region, Russian Federation

- Lentransgaz 100.00 %
address : Staraya Bronevaya str. 4, St.-Petersburg, Russian Federation

- Kubangazprom (Russian Federation) 100.00 %
address : Krasnodar, Russian Federation

- Kavkaztransgaz (Russian Federation) 100.00 %

- Tyumengazsvyaz (Russian Federation) 100.00 %
address : Tumen, Russian Federation

- Tyumenburgaz (Russian Federation) 100.00 %
address : Tumen, Russian Federation

- Tomsktransgaz (Russian Federation) 100.00 %
address : Tomsk, Russian Federation

- Tattransgaz (Russian Federation) 100.00 %

- SURGUTGAZPROM (Russian Federation) 100.00 %
address : Surgut, Tyumen oblast, Russian Federation

- Gazprombank (Russian Federation) 97.00 %
address : Moscow, Russian Federation
as at 31.12.2000

- GAZTELEKOM (Russian Federation) 80.00 %
address : Moscow, Russian Federation

- LEBEDINSKIY GORNO-OBOGATITELNIY KOMBINAT (Russian Federation) 57.00 %
address : Gubkin, Belgorod oblast, Russian Federation
as at 31.12.2000

- Gazavtomatika (Russian Federation) 51.00 %

- ZAPSIBGAZPROM (Russian Federation) 51.00 %
address : Tumen, Russian Federation

- VOLGOGRADNEFTEMASH (Russian Federation) 51.00 %
address : Volgograd, Russian Federation

- Spetsgazavtotrans (Russian Federation) 51.00 %
address : Izhevsk, Udmurtskaya Republic, Russian Federation

- GAZENERGOSERVIS (Russian Federation) 51.00 %
address : Moscow, Russian Federation

- SIBIRSKO-URALSKAYA NEFTEGAZOHIMICHESKAYA KOMPANIYA (Russian Federation) 51.00 %
address : Salehard, Tyumen region, Russian Federation
In January, 2001 GAZPROM bought 51% of voting shares of AK SIBUR. AK SIBUR is one of the leading sellers of oil/gas products in Russian Federation. 2 204 mill RUB for shares were paid in: cash, bonds of some daughter company of GAZPROM and the shares of some other companies incorporated into GAZPROM. Public information (as at January-February, 2002): Mr Goldovsky (president of AK SIBUR), together with Mr Koshits and Mr Sheremet, were accused of the embezzlement of 2600 mill RUB of GAZPROM. Mr Goldovsky was arrested and put into prison (as at February, 2002).

- Natsionalniy Rezervniy Bank (National Reserve bank) (Russian Federation) 40.00 %
as at 31.12.2000

- Wintershal Gas GmbH (Germany) 35.00 %

- Gazum AO (Finland) 25.00 %

- GAS-AGRO-FREEPORT (Russian Federation) 20.00 %
address : Astrahan, Russian Federation

- Concern ROSSHELF (Russian Federation) 20.00 %
address : Moscow, Russian Federation

- EBERGOENGINEERIT 18.00 %
(Russian-Italian-German Joint-Venture)

- Avtogaz (Russian Federation) 4.60 %
address : Moscow, Russian Federation

yes

- AvtoVAZbank (Russian Federation) share n/a
address : Moscow, Russian Federation

- Severgazprom (Russian Federation) share n/a

- Gazflot (Russian Federation) share n/a

- Volgogradtransgaz (Russian Federation) share n/a
address : Volgograd, Russian Federation

- SOGAS (Private Joint Stock Company) share n/a
(European-Asian Insurance Company for Gas Industry)

- ROSSIYSKIY GAZ (Universal Exchange) (Russian Federation) share n/a
address : Moscow, Russian Federation

- Sberbank RF (Russian Federation) share n/a
address : Moscow, Russian Federation

- KAMAZ joint-stock company (Russian Federation) share n/a
address : Naberezhnye Chelny, Republic of Tatarstan, Russian Federation

- SGT (Germany) share n/a
This daughter company of GAZPROM is acting as holding company which represents the interests of the group in a number of gas-supplying and gas-transporting companies of Central Europe.

- Yugtransgaz (Russian Federation) share n/a
address : Saratov, Russian Federation

- Yamburggazdobicha (Russian Federation) share n/a

- GAZPROM FINANCE B.V. (Netherlands) share n/a
Established in Feb., 1999 especially to attract foreign investments into GAZPROM.

- JAVA Tobacco Factory (Russian Federation) share n/a

More than 130 companies in Russia in total.

Bankers :
- Gazprombank (Russian Federation)
address : Moscow, Russian Federation
account(s) : 40702840300000000001, 407028100000000000001

Clients :
- BULGARGAS

- Eesti Gaas AS (Estonia)
address : Liivalaia 9, Tallinn, 10118, Estonia
reg. number : 10178905

- GAZUM

- Gas de France (France)

- LIETUVOS DUJOS (Lithuania)
address : Aguonu 24, Vilnius, 03212, Lithuania
reg. number : 120059523

- Latvijas Gaze (Latvia)
address : Riga, Latvia

- RVE TRANSGAS

- TURUSGAZ

and many others. Partners in Finland, Estonia, Lithuania, Latvia, Czechia, Slovakia, Poland, Belarus, Ukraine, Moldova, Hungary, Austria, Germany, France, Switzerland, Italy, Romania, Bulgaria, Turkey, Slovenia, Croatia, Bosnia, Yugoslavia, etc.

Suppliers : The same as clients (worldwide)

Defaults Registered
- 14.02.2006 :
Loss
status : Claim recalled
claimant : OAO ''Rosgazifikatsiya'' (Russian Federation)
( the data as of 01.06.2006 )

- 05.12.2005 :
Loss
status : Claim declined
claimant : OAO "Rosgazifikatsiya" (Russian Federation)
claim's essence: misappropriation of 50 000 000 shares of OAO "Gazprom" by ZAO 'SR-DRAGa' and OYUL 'Depozitarno-raschetniy soyuz'. Declined by Cheremushkinskiy cort
( the data as of 01.06.2006 )

- 25.10.2005 :
Loss
status : Claim accepted
claimant : 12 holders ADR OAO ''NK "YUKOS" (United States of America)
claim's essence: compensate for depletion of ADR (among them OAO "Gazprom").
( the data as of 01.06.2006 )

- 07.2005 :
Debt
status : Claim declined
claimant : ''Minardi'' (Colombia)
claim's essence: obligations by sponsor support.
( the data as of 01.06.2006 )

- 07.06.2005 :
Loss
status : Claim declined
claimant : ''Monkrif Oil International Ink.'' (United States of America)
claim's essence: termination of case of American company's rights reinstatement claims in South-Russian minefield and/or OAO "Severneftegazprom", due lack of jurisdiction of the United States cort.
( the data as of 01.06.2006 )

- 28.03.2005 :
Loss
status : Claim recalled
claimant : Oil company YUKOS in Houston (United States of America)
( the data as of 01.06.2006 )

- 11.02.2005 :
Loss
status : Claim accepted
claimant : Oil company YUKOS in Houston (United States of America)
claim's essence: to recover the losses incurred by YUKOS in the result of OAO Yuganskneftegaz sale at auction in December 2004.
( the data as of 01.06.2006 )

We have not traced records on the subject company in RF bankruptcy/insolvency/receivership data base.

Financial Data : GAZPROM is company Nr 1 in Russia by sales volume.

Period, months
9

12

12

Ended
01.10.2006

01.01.2006

01.01.2005

Currency
RUB th

RUB mio

RUB mio


Non-current assets
3 319 252 274.00

3 057 510.00

1 768 686.00

  incl: - Fixed assets
2 657 547 987.00

2 407 816.00

1 459 810.00

        - Financial assets
650 442 460.00

639 129.00

300 808.00

Current assets
1 053 049 511.00

808 380.00

743 163.00

  incl: - Stock
130 509 327.00

95 251.00

79 301.00

        - Debtors
851 409 868.00

602 240.00

574 380.00

        - Cash
34 006 090.00

73 045.00

64 815.00

ASSETS TOTAL
4 372 301 785.00

3 865 890.00

2 511 849.00

Equity
3 547 751 454.00

2 964 318.00

1 851 960.00

  incl: - Share capital
118 367 564.00

118 368.00

118 368.00

Liabilities Total
824 550 331.00

901 572.00

659 888.00

  incl: - Long-term liabilities
542 374 491.00

704 191.00

459 533.00

        - Short-term liabilities
282 175 840.00

197 381.00

200 355.00

EQUITY AND LIABILITIES TOTAL
4 372 301 785.00

3 865 890.00

2 511 849.00

Net sales
1 185 836 552.00

1 231 262.00

887 230.67

Cost of goods sold
421 509 268.00

425 191.00

317 406.05

Operating profit






Profit before taxation
338 883 877.00

289 228.00

210 717.88

Net profit
235 830 659.00

203 439.00

161 084.02


- - - R a t i o s - - - - - - - - - -






Return on sales, %
28.58

23.49

23.75

  Profit before taxation / Net sales
Operating margin of profit, %






  Operating profit / Net sales
Return on investment, %
9.55

9.76

11.38

  Profit before taxation / Equity
Current assets turnover
1.13

1.52

1.19

  Net sales / Current assets
Working capital
770 873 671.00

610 999.00

542 808.00

  Current assets - Short-term liabilities
Leverage
0.81

0.77

0.74

  Equity / Total assets
Current ratio
3.73

4.10

3.71

  Current assets / Short-term liabilities
Quick ratio
3.27

3.61

3.31

  (Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio
0.23

0.30

0.36

  Total liabilities / Equity

Publications
- 01.01.2007 :
Subject : http://www.gazprom.com/news
On December 31, 2006, the Gazprom Headquarters hosted the final round of the talks on gas supply to Belarus and the signing ceremony of a five-year Gas Supply & Transit Contract for 2007 through 2011 in the presence of Sergey Sidorsky, Government Chairman of the Republic of Belarus. The parties identified the price of Russian gas for 2007 (US$ 100 per 1,000 cu m), the pricing formula starting from January 1, 2008 (which is in line with the Russian gas supply pricing formula for Europe) and the discounts to the market price for 2008, 2009 and 2010 (67%, 80% and 90%, respectively). The parties also agreed on the tariff rate for gas supply by the Beltransgaz owned networks (US$ 1.45) and the service charge for the Yamal-Europe gas pipeline operation. Under the Contract terms, Gazprom will pay US$ 2.5 bln for a 50% stake in Beltransgaz over the next four years. All payments will be effectuated in cash.

- 22.12.2006 :
Subject : http://www.gazprom.com/news
Today, at a Press Conference, Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, Director General of Gazprom export has announced that Gazprom sealed gas supply contracts for 2007 with three companies from the Republic of Georgia. While the contracts with Mtkvari Energetika and the Georgian International Energy Corporation were inked for one year, the contract with KazTransGaz-Tbilisi will run within the first quarter. The total annual gas supply amount will be 1.1 bcm priced at US$ 235 per 1,000 cu m.

- 21.12.2006 :
Subject : http://www.gazprom.com/news
Today OAO Gazprom, Royal Dutch Shell plc (Shell), Mitsui &Co., Ltd. (Mitsui) and Mitsubishi Corporation (Mitsubishi) have signed a Protocol on Gazpromís joining Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) as the main shareholder. In accordance with the Protocol terms, Gazprom will purchase a 50 per cent stake plus 1 share in Sakhalin Energy for US$ 7.45 bln. To execute the deal each of Sakhalin Energyís shareholders will decrease its stake by 50 per cent with recompense to be allocated on a proportional basis. As a result, Shell will own a 27.5 per cent stake, and Mitsui and Mitsubishi - 12.5 per cent and 10 per cent of shares, respectively.

- 21.12.2006 :
Subject : http://www.gazprom.com/news
Gazprom will receive an up to 30-year upstream license for the Block. The project is planned to be funded with over US$ 200 mln to be used for geological exploration purposes including for drilling 6 exploration wells.

- 15.06.2006 :
Subject : ***
The company "Gazprom" is in the list of the 10 the most rich companies by the market capiralization "Financial Times". The FT specialists have estimated the gas group on 196 338 milliard USD.

- 25.05.2006 :
Subject : From the company's website
The Management Committee has endorsed the Gazprom oil business development strategy stipulating annual crude recovery to be boosted to 80 mln t by 2020. The oil business will be developed on the vertical integration basis. Developing the oil activity is a strategically important measure aimed at converting Gazprom into a diversified company, a leader in the global energy market. Implementing this strategy will help reinforce Gazpromís standing in the internal and external markets as an efficient multi-profile petroleum company, expand the development of Gazpromís oil reserves and create additional conditions for enhancing Gazpromís market capitalization and improving its bottom line. The Management Committee resolved to submit the strategy for the Board of Directorsí approval.

- 08.09.2005 :
Subject : www.negp.ru
Today OAO Gazprom, BASF AG and E.ON AG have signed a principal agreement on construction of North-European gas line which will go via Baltic Sea aquatoria. Due to this agreement the partners are going to found German-Russian joint-venture North European Gas Pipeline Company shared as follows: Gazprom - 51%, BASF and E.ON - 24,5% at a par. This agreement was discussed by Governments of both countries. The presidents Mr V. Putin and G.Schroeder have underlined the strategical signification of this project for development of German-Russian relations in energy branch. The gas line is planned to be launched in 2010. Its length would be 1200. The conbstruction of land part of gas line will be started in autumn 2005.

- 06.09.2005 :
Subject : Vedomosti 165
Gazprom's market value is estimated at 100 billions USD. Its ctocks circulating at New-York Exchange raised by 4,5%. In a few years Gazprom is going to reach 200 billion EUR market value.

- 25.08.2005 :
Subject : company's web-site
In the 1-st 1/2 2005 Gazprom has supplied 282,8 billions cub.m. of gas to the customers (+1,2 billions over plan). ... Capital investments are parformed at 102,6% against forecast. Gain for 1-st 1/2 2005 made 720,7 billions RUB (44,1 billions RUB/or 6,5% over plan). Net profit for Jan-June 2005 made 88,4 billions RUB (increased 2,1 times over plan).

- 04.10.2004 :
Subject : www.expert.ru
Gazprom has attracted 6-years syndicated loan at total value 1100 mill USD. ABN Ambo-Bank is underwriter, book-runner, organiser and agent in this deal. This credit is secured by export gain on long-term agreement for gas supplying to Czechia. The loan is aimed for re-financing of six secured credits which have been taken by Gazprom in 2001-2003.

- 30.07.2004 :
Subject : ***
GAZPROM DIVESTS 49.979% STAKE IN SOGAZ On 26 July, Gazprom divested a 49.979% stake of the Sogaz company, with a 50% stake + 2 shares still remaining under the Gazprom Group's ownership. The timing of the stake divestiture is conditioned by Sogaz's good financial standing that allowed Gazprom to generate a RUR 1.69 billion return on the shares sold. Arranged by the Moscow Interbank Currency Exchange, the deal was the first openly-held transaction with Gazprom's assets. Being a captive insurance company, Sogaz is confined in its capacity to minimize Gazprom's risks. Sharing risks with new counterparts and contracting insurance services of independent companies is expected to result in reduced risks for the Company.

- 28.07.2004 :
Subject : ***
GAZPROM EXTRACTS 1.5 BCM OF GAS ABOVE TARGET OVER 1ST HALF OF 2004 Over the 1st half of 2004, Gazprom extracted 276.8 bcm of gas, 1.5 bcm up on the target for Russia. At the same time, 24.4 bcm were withdrawn from underground gas storage facilities, 1.8 bcm less than scheduled due to warm climatic conditions during the past winter. Over the 1st half of 2004, Russian consumers withdrew some 200 bcm of gas (including natural gas of independent producers and associated petroleum gas of oil companies), 1.4 bcm less than targeted which was also caused by the warm winter. Gas supplies to outside the Russian Federation exceeded the target by 8.5 bcm and totaled 127.6 bcm.

- 06.04.2004 :
Subject : www.regnum.ru
A head of Minekonomrazvitie (Ministry for Economic Development - MED) Mr German Gref said that in June 2004 Russian Government will discuss a restructurisation of Gazprom. Currently there is no consensus of opinion on Gazprom reform between Government and Gazprom. However, they agreeded about Gazprom securities market liberalisation.

- 05.04.2004 :
Subject : www.izv.info/economics
In the near future Gazprom will establish its own oil company, - stated Gazprom's deputy chairman of the board Mr Aleksandr Ryazanov. Affiliated oil company is planned to be founded in summer 2004. Firstly 100% of affiliation's shares will be helded by Gazprom. However, in 2-3 years it could be sold. Most probably a part of affiliation's shares will be offerred at stock market or to strategic investor. 51% of affiliation's shares will belong to Gazprom. New oil company will be involved into Gazprom's co-projects with oil companies (LukOIl, Rosneft). The new oil/gas fields to be developed will principally differ from usual ones by their large content of gas condensate which is close to oil by its structure.

- 01.04.2004 :
Subject : www.izv.info/politics
The offers for Gazprom's restructurising will be developed by Ministry of Industry and Energetics (MIE). Ministry for Economic Development, which until recent has been drawing up these documents is delegating MIE for this work.

- 24.03.2004 :
Subject : www.izv.info/economics
Gazprom has completed a deal of buying-up of 34% of AB Lietuvos Dujos shares (Lithuanian national gas supplier).

- 19.03.2004 :
Subject : Kommersant
GAZPROM CAST THE NET Dmitry Butrin Alexey Miller presented a Program on a new phase of Gazprom's restructuring. At a meeting held yesterday at Gazprom's Headquarters Alexey Miller, Gazprom's Management Committee Chairman, presented a Program on a new phase of Gazprom's restructuring. Until 2004 Gazprom will have all its gas transmission units "cleared" of non-core business, thus, putting the gas transmission system under control of wholly-owned companies. By commencing a new reform phase, Gazprom will obtain an opportunity to avoid attempts from the Government to restructure the company on its own. The meeting dedicated to the changes in Gazprom, was attended by almost all the Deputy Chairmen of the Company's Management Committee and heads of gas production and transmission subsidiaries. The meeting focused on the report prepared by the working group for developing Gazprom's corporate structure and presented by Alexey Miller and his Deputy Alexander Ananenkov. According to Sergey Kupriyanov, Deputy Head of Gazprom's Information Department, the meeting approved the draft reforms to be conducted this year. According to Alexey Miller, the main problems discussed related to finalizing the 1st phase of Gazprom's restructuring (during which the company "resolved the issues of developing the governance structure, regulatory procedures and the parent budgeting system") as well as to initiatiating the 2nd reform phase, namely "optimizing the subsidiaries' core business management structure". The reforms basically pursue the objective of establishing separate entities not directly involved in maintaining the gas main network, within 17 Gazprom's subsidiaries mainly dealing with gas transmission. In particular, a number of low-pressure networks nowdays controlled by Gazprom's gas transmission affiliates, will be transferred under Regiongazholding's management; well maintenance otlets will enter gas extraction companies; repair and service units will be converted into independently-run "daughters". The UGS facilities are planned to be put under control of a separate structure and it may very well be that they will be accessed on a commercial basis. Finally, the gas transmission subsidiaries' social facilities are planned to be handed over to an integrated target-unprofitable company. At the same time, Gazprom will set up gas pipeline maintenance units within its gas production affiliates with the view of including the former into the gas transmission companies. Thus, 17 Gazprom's gas transmission companies will only focus on gas transmission by 2005. It can be very well assumed that the second-phase reform decision was adopted by Gazprom beforehand and was timed for the conclusion of the presidential elections. According to a Troika Dialogue expert Valery Nesterov, "the confrontation around Gazprom's restructuring has somewhat smoothed down and the company is conducting the reforms under a scheme devised, which does not envisage for any sort of desintegration". The second phase of restructuring has been launched at a very approriate moment. The Economic Development and Trade Ministry (EDTM), Alexey Miller's long-time opponent, is obviously too busy now to focus on Gazprom and it is a great deal harder to object to the Gazprom's restructuring proposals approved already than to lobby one's own initiative. A EDTM source told yesterday Kommersant that the Ministry had not been informed of the meeting. Independent gas producers consider the reform to be a positive factor. "If it leads to easing the gas producers' access to the gas infrastructure and to the pricing transparency in the gas transmission services, we can't but only welcome it," - Evgeny Ostapov, ITERA's press secretary was quoted by Kommersant as saying. Mikhail Lozovoi, NOVATEK's chief spokesman, believes that by "clearing" the gas transmission sector, the company will hopefully be able to establish a fund attraction system, to be channeled for upgrading gas transmission networks and expanding their capacities. Dmitry Tsaregorodtsev, an expert with the Prospect Investment Company, believes that Gazprom's actions will be percieved by the gas market representatives as "unexpected and extremely unfavorable for the company's development". In his opinion, the gas transmission separation will allow to more precisely determine the gas transmission tariffs and since the bulk of the business being withdrawn from the gas transmission companies is non-core, it will eventually be sold off by Gazprom.

- 18.03.2004 :
Subject : www.gazprom.ru
GAZPROM - THE SECOND PHASE OF RESTRUCTURING On March, 18, 2004 at Gazprom's Headquarters, Alexey Miller, Gazprom's Management Committee Chairman, held a meeting on the changes in the Company's corporate structure. The meeting was attended by the general directors of Gazprom's gas production and transmission subsidiaries and members of the working groups for developing Gazprom's corporate structure. A. Miller pointed out that 'Gazprom had mostly fulfilled the core tasks targeted for the 1st phase of the Company's restructuring: developing the governance structure, regulatory procedures and the parent company's budgeting system. Gazprom is shifting over to the 2nd phase of restructuring, which includes improving the Company's performance as a vertically-integrated organization as well as optimizing the subsidiaries' core business management structure'. In order to achieve these objectives, Gazprom is setting up specialized units within the subsidiaries combining gas production and processing with gas transmission and storage. The structural changes are expected to completely differentiate financial flows in the gas and liquid hydrocarbon production, transmission, processing, underground storage and marketing. In addition to focusing on the core business activities, Gazprom plans to establish independently functioning service agencies, distribution networks and social infrastructure facilities as well as to separate business and non-business operations in the telecommunications sector. All the necessary decisions and legal acts on the structural changes are to be produced and adopted within 2004.

- 2004 :
Subject : local mass-media
Projects Gazprom Sets Forth Strategic Priorities Gazprom's Board of Directors plans to adopt a 'program for the comprehensive industrial development of the Yamal Peninsula fields' in late March. This program will become the foundation of the company's strategic development till 2010. The Yamal Peninsula and the estuaries of the Ob and Taz rivers are expected to be major regions for the expansion of Gazprom's gas production. But in the immediate future, efforts will be focused on developing the Achimov gas reservoirs of Urengoi as well as reserves in the Nadym-Pur-Tazovsky district. Development operations at the Shtokman field in the Barents Sea, which TotalFinaElf, Norsk Hydro, Conoco and Fortum have shown much interest in, will start later. Priorities Determined Key provisions of the Yamal Program are as follows: First, Gazprom has defined the Yamal Peninsula as the region of its strategic interests and the major area for field development to 2010 and beyond, ensuring annual gas output of no less than 530 billion cubic meters. Second, Gazprom intends to start exploring new deposits. The program of geological exploration in 2002-2008, which is to be approved along with Gazprom's strategic priorities, stipulates intensifying work at sites in the offshore area in the Ob and Taz estuaries as well as on the Yamal shelf. Its aim is to ensure a total gas reserve increase of 2.5 trillion cubic meters. Third, since commercial gas production at Yamal and in the surrounding area has not been brought in line yet, Gazprom people are going to take 'exhaustive measures' to increase gas extraction at the Zapolyarnoe field, which is already onstream, to the targeted level of 100 billion cubic meters a year. Fourth, within the time period before the beginning of the development of the Yamal deposits, Gazprom plans to begin working with the Aneryakhinskaya area reserves and constructing the Kharvutinskaya site of the Yamburg field as well as bringing the Pestsoviy, Vynga-Yakhinskiy, Ety-Purovskiy fields and the Valanzhinskiy reservoirs of En-Yakhinskiy field onstream. Fifth, in the first half of this year Gazprom intends to work out a program of scientific and technical confirmation for the complex development of the Achimov reservoirs as a raw base to support and increase output of liquid hydrocarbons. This is intended to offset gas recovery from the deeper gas-bearing horizons of Urengoi and other almost depleted fields in Western Siberia. Distant Future Adopting the Yamal development program will mean that other large fields, above all the gigantic Shtokman field on the deep-water shelf of the Barents Sea with gas reserves of over three trillion cubic meters, will be developed in the more distant future. And this is quite understandable. The simultaneous implementation of two gigantic projects, would be, first, too costly for Gazprom and, second, might result in intense competition between gas sellers on domestic and foreign markets. In January Gazprom's Board decided 'to go on with the supplementary exploration of the Shtokman field, drilling an exploratory well and undertaking the necessary scientific research as well as the design and prospecting work to make the project more attractive in terms of drawing investments'. This means that investments in the Shtokman project will be moderate. Those foreign investors still targeting it (such as TotalFinaElf, Norsk Hydro, Conoco and Fortum) will not supply the necessary $12 billion for the project's first stage. ong those distanced projects is the one concerning Gazprom's expansion to Asian markets. The position of the company's senior executives on the outlook for gas shipments to China was clarified by the statement of Pyotr Rodionov, a former member of the board recently forced to resign. In January he said at a press conference that the decision on gas shipments to China from Eastern Siberia, the Far East and Central Asia would not be finalized before 2010. In other words, Gazprom's plans to participate in constructing the 4200-kilometer Xingjiang-Shanghai gas pipeline sooner than the next eight years do not mean that Russian gas will join the trans-Chinese flow. Rather, they mean that the Russian side will act merely as a participant in one of supplementary projects, possibly the exploration and development of gas fields in the western parts of China. Great and Mighty Yamal There are 25 large discovered fields of natural gas at Yamal with total reserves of more than 13 trillion cubic meters. Developing them to the extent that it would be possible to start export shipments in commercial quantities would require around $44 billion, according to a Gazprom estimate from the early 1990s. So far the company has been unable to acquire this amount and only recently the Ministry of Natural Resources has been threatening to withdraw licenses given to Gazprom subsidiaries such as Nadymgazprom and Urengoigazprom since all terms stipulated in licensing agreements have long been neglected. It has become evident that Gazprom intends to exploit its ties with the president and request a rescheduling of the licenses' deadlines. In January the company's board decided that along with the Yamal-Nenetsk Autonomous District authorities it will work out and submit to the government in the first half of 2002 the draft federal legislation 'on state support measures for the industrial development of fields on the Yamal Peninsula'. Although Yuri Neyolov, the governor of Yamal insists that the industrial production of natural gas at Yamal could be started in 2007, this timeframe seems overly optimistic. Adverse working conditions and the complicated geological structure of the strata in Yamal's reservoirs make the primary production cost in this region several times higher than those at onstream fields. Gas Prices Make the World Go Round Costly Yamal gas can find its customers only if prices on the world market grow by at least 1.5-2 times from the current levels and hold steady at that level for enough time. Hypothetically speaking such a situation could emerge in the second half of this decade but there are no guarantees of this. The project to develop the more deep-seated Achimov reservoirs of Urengoi seems as close to the real thing as possible. Gazprom has secured the support of its German partner, Wintershall AG, a subsidiary of BASF, in this endeavor. But Gazprom's problems, both financial and technological, still persist. Last year Wintershall walked out on Gazprom's Prirazlomniy project; furthermore, its participation in the Urengoi project has not been solidified as of the present time. All things considered, the strategic decisions being made by Gazprom are perceived only as statements of intent. Whether they will be implemented depends on two factors: the level of world gas prices and the declared resolve of the Russian government to raise gas tariffs on the domestic market. Given Gazprom's $9 billion in debts, it appears unlikely that the gas giant will find any other stable sources of financing anytime in the near future.

- 27.11.2003 :
Subject : Expert.ru
Commerzbank AG and SG Corporate & Investment Banking made public they would going to allocate 6-years credit at rate of 300 000 000 USD for OAO Gazprom. This credit is warranted by gas export deliveries to Germany. Banks have completely handled financing of this credit, however, they are going to attract the other financial institutions by syndicating this loan.

- 24.11.2003 :
Subject : Reuters
Gazprom H1 Profit Rises Tenfold Gas monopoly Gazprom said on Friday its net profit rose tenfold in the first half of 2003 to 103.76 billion rubles ($3.48 billion), mainly due to strong export prices and volumes. First-half net profit was calculated according to International Accounting Standards and was 21 percent above the consensus of a Reuters survey of eight analysts. Gazprom shares in London were up nearly 7 percent, while rising only 1.44 percent on the RTS exchange in Moscow in line with the broader market. The world's largest gas company, which supplies Europe with one quarter of its gas needs, said in a statement that its sales rose 38 percent in the first half and 42 percent in the second quarter of 2003 year-on-year. Gas export prices, which are cross-indexed with global oil prices, rose in the first half and second quarter by 21 and 32 percent respectively year-on-year, Gazprom said. Volumes of gas exported to Europe rose by 10 percent in the first half of the year and by 8 percent in the second quarter of 2003 on a year-on-year basis as European customers asked for bigger volumes under long-term sales contracts. Inside Russia, Gazprom also enjoyed bigger sales volumes and higher prices after the government agreed to raise domestic prices. The firm said its operating costs rose 22 percent in the first half year-on-year on higher transit fees due to bigger volumes of sales, new transportation agreements with gas producers in Central Asia and a rise in transportation tariffs in Poland. Sales of Gazprom's gas condensate and refined products also rose 79 percent in the first half year-on-year, mainly due to higher global oil prices and increased production of its petrochemical unit, Sibur. The company's debt was down 3 percent in the first half of 2003 compared with the end of 2002 at 389.5 billion rubles ($13.07 billion), mainly due to limited borrowing through domestic promissory notes.

- 24.11.2003 :
Subject : www.expert.ru
The shares of overseas company Novy Neft (Bermuda islands), established especially for OAO Gazprom's shares purchasing at russian market, have gone up 15% in price in the first day of bids. The shares of russian gas monopolist are being traded at local market twice cheaper than ADR value at international markets. However, after a statement of Vladimir Putin and German Gref concerning possible liberalisation of Gazprom's shares market in 2004, the prices for Gazprom's shares active at local and foreign markets started to line up. Novy Neft (Bermudas) gives the possibility the foreigners to buy Gazprom's shares at local (russian) prices.

- 24.11.2003 :
Subject : www.expert.ru
On 20.11.2003 Russian Government has approved investment programm of Gazprom development for 2004. Total investments volume which are to be made in 2004 is 232000 mill RUB, incl. 20 000 mill RUB - long-term capital investments of Gazprom.

- 10.10.2003 :
Subject : Reuters
10.10.2003 $1.8 Bln Gazprom Net? The world's biggest gas company, Gazprom, will show healthier first quarter 2003 profits on the back of higher prices and sales, analysts said Thursday. The company, which supplies Europe with a quarter of its gas, plans to publish its first quarter results to international accounting standards this week or next. A survey of four analysts produced an average forecast for net income of $1,805 million. There are no comparative figures, as this is the first time Gazprom has published quarterly figures. Gazprom is expected to profit from higher international prices, which gained in the first quarter following a rise in oil prices in 2002. Gas prices follow oil prices with a lag of six to nine months. Gazprom's exports, the main source of revenues, rose 10.5 percent to 38.9 billion cubic meters to Western and Central Europe in the first quarter of 2003 as a cold winter and anticipations of price rises boosted demand. The company boosted output to 143.07 bcm in the first three months of the year from 140.17 bcm in the same period of 2002.

- 29.09.2003 :
Subject : Itar-Tass
Gazprom off Reform Agenda The government has put reform of the gas industry on hold after the head of Gazprom, the world's biggest gas company, said a shake-up would spell disaster. Prime Minister Mikhail Kasyanov pulled Gazprom from the agenda of Friday's Cabinet meeting, reversing an earlier decision to discuss reforms even though Gazprom and the Economic Development and Trade Ministry had not yet agreed on a plan. The move is the latest turn in a dispute between reform-minded members of President Vladimir Putin's government and Gazprom management, headed by CEO Alexei Miller, which has been strongly resisting efforts to modernize a vast state firm with tentacles reaching deep into the economy. Analysts said there would be no more talk of reform before the end of the election season -- parliamentary polls are due in December and President Vladimir Putin is seeking a second term in March. "The election trumps everything," said Matt Thomas, an energy analyst at Alfa Bank's London office. Russia's highly profitable oil industry was sold off to private investors in the 1990s, but Gazprom is by far the largest business asset still in state hands and is a powerful source of patronage, making any talk of reform highly sensitive. Vedomosti said Friday that Miller had written to Kasyanov to express strong opposition to the reforms. Government spokesman Alexei Gorshkov said the issue had been removed at the request of the Economic Development and Trade Ministry and the Energy Ministry. "A decision to hold a special meeting on the issue and then discuss it again at a Cabinet meeting has been taken," Gorshkov said. "No date has been set." However, First Deputy Economic Development and Trade Minister Andrei Sharonov blamed the government for pulling the issue, saying he was "deeply disappointed" by the move. "We are deeply disappointed that the government dropped the issue once again," Prime-Tass quoted Sharonov as saying. He added that the government was not ready to discuss the issue. He said his ministry fully understands the risks involved in tinkering with the way Gazprom operates, but that "Gazprom should not forget that refusal of any changes and complete unwillingness even to discuss the issue also pose potential risks." "Sooner or later these questions must be decided at a high level," he said. "Although Putin has not publicly come off the fence, the fact that he let the reform initiative run so far before this morning's reverse amounts to a colossal political humiliation for Kasyanov and the government reformists," UFG investment house said in a research note. The government said in a statement before the meeting that Gazprom's production and transport units should be separated to make financial flows transparent. Earlier last week, the Economic Development and Trade Ministry called for a faster reform and said it wanted the Cabinet to discuss giving foreigners the same rights as Russians in trading Gazprom shares. Foreigners can buy and sell only Gazprom's American Depositary Shares, which trade at a huge premium to local shares. Local Gazprom shares lost 2.54 percent to 37.62 rubles ($1.23) early Friday, while ADSs, each of which represents 10 shares, fell 3.56 percent to $23. The Cabinet planned to discuss gas reform last December, but Kasyanov canceled the meeting. Miller was reported to have written to Putin saying the reform would damage the firm. Miller, who comes from Putin's home town of St. Petersburg, is widely seen as a protege of the president. "It seemed that Miller and his backers in the Kremlin's 'St. Petersburg' clan had been defeated this time -- but no," UFG said. Vedomosti quoted Miller's letter as saying the spun-off gas firms would stop investing and that oil firms would buy gas deposits. It would lead to a fall in gas output "to 470 billion to 475 billion cubic meters" from 530 bcm planned for this year. He said the reform "will inevitably lead to creditors asking for an early debt repayment," leading to default. He also said Gazprom's market capitalization would be wiped out. Analysts said Gazprom's arguments were shaky. "The government must ... be careful in its approach to gas sector reform, but structural changes to the industry... will be value-creative for shareholders," Troika Dialog said.

- 24.09.2003 :
Subject : Reuters St-Petersbourg
Gazprom Soars 5% on Liberation Plan Russia should give foreign and local investors equal rights to buy shares in Gazprom next year, Economic Development and Trade Minister German Gref said Tuesday Foreigners now can buy only Gazprom American Depositary Shares, which trade at a huge premium to its ordinary shares available to Russians. "The dual market for Gazprom shares should be liquidated as soon as possible. The year of 2004 is the best year when it can be done," Gref told reporters on the fringes of a U.S.-Russian energy conference. Gref's comments came after his deputy Andrei Sharonov said the ministry would propose to the Cabinet at a meeting on Friday that it order a final version of a plan to reform Gazprom's share structure. "In the draft decision that we are proposing there are orders to Gazprom, the Property Ministry and us to make final proposals on share market liberalization," he said. At Friday's meeting the Cabinet is scheduled to discuss the restructuring of Gazprom's pipeline system. Gref's ministry says the pipelines should be spun off from Gazprom, but Gazprom sees the idea as a first step in breaking up the company. President Vladimir Putin has said he opposes breaking up Gazprom but favors more transparency. "If we want to get a transparent Gazprom, we must know how much transportation costs," Gref said. "If we want to know this, we must separate the transportation business from Gazprom." Sharonov said the pipeline and share reforms should go together. "We think that these proposals should be discussed at the same time as structural reforms because they have a direct impact on capitalization and the company's possibilities for development," Sharonov said. Analysts say if Gazprom shares were freed to foreign ownership, prices of local shares would go up and ADSs would go down until the two kinds of securities become equally priced. According to Metropol investment house estimates, Gazprom's capitalization by local shares stands at $23.8 billion and by ADSs at $43.6 billion. The removal of the ring fence could at least double capitalization, Metropol says. Gazprom local shares closed up nearly 5 percent to 37.50 rubles ($1.23) on the news, while its ADSs, each of which represent 10 local shares, gained 4.2 percent to $21.85. "This statement provoked interest in Gazprom ... everyone went buying what is available to them. Those who can buy locals went to buy locals. Those who cannot buy locals went to buy ADRs," Aton chief trader Denis Sarantsev said. The government has been working on plans to free Gazprom shares for several years and so far has two core plans. Under one, the government would have direct control over 50 percent plus one share in Gazprom before freeing shares. Under the other plan, the government would remove the ring fence without getting direct majority control. It already has direct control of 38.37 percent plus an indirect stake via Gazprom itself, which owns about 16 percent. That means the government can push all decisions through the board. Analysts say any significant decision on the fate of Gazprom would be a political one. The company supplies Europe with a quarter of its gas and subsidizes most of the Russian economy via low prices. They say no such decision could be taken before the March presidential election, which Putin is heavily favored to win. Analysts said that whether the government decided to remove the ring fence at once or take a more gradual route, any progress in Gazprom share reform would be good for local shares. "Given Gazprom's vast size in terms of assets, operations and market capitalization, it might well eventually replace UES as Russia's benchmark stock for domestic investors," Aton said in a research note.

- 23.09.2003 :
Subject : Vedomosti
Gazprom is negotiating with partner - UK-Dutch company Royal Dutch/Sheel - to swap the stocks. Being failured in its negotiations about Royal Dutch/Sheel share redemption in project 'Sakhalin-2', Gazprom offered Royal Dutch/Sheel to participate in development of oil/gas field of Yamalo-Nenetsky region. The experts consider such an offer could help the parties to compromise. Swapping stocks are estimated at 1000 mill USD. ... According to the information sources, Gazprom hopes to acquire up to 25% of 'Sakhalin-2' project. ... In 1997 Gazprom and Royal Dutch/Sheel have agreeded to co-operate. According to co-operation agreement Royal Dutch/Sheel has acquired 50% right of Polar gas/oil fields development project with annual extraction quota 25 mill ton of oil. In its turn, Shell had to buy converted promissory notes issued by Gazprom at total value 1000 mill USD. This deal, however, has been failured. Further co-deals for Rosneft privatisation also had no success. Press-secretary of russian department of Royal Dutch/Sheel Mr Maxim Shoub told 'Vedomosti' that the projects of Polar fields and 'Sakhalin-2' are still being discussed.

- 22.09.2003 :
Subject : Prime-Tass
Interros Sells Rusia? Vladimir Potanin's giant Interros holding has offered 40 companies the opportunity to buy its 25.71 percent stake in Rusia Petroleum, which is developing the Kovykta gas condensate field in the Irkutsk region, a source close to Rusia said Monday. The source did not name any of the companies. The source also said Gazprom had refused to buy the stake, reportedly due to disagreements about the price. The source did not provide the possible price for the stake. Interros reportedly has no obligation to offer its stake for sale to other Rusia shareholders, which include BP (32.95 percent), Tyumen Oil Co. (29.11 percent), and the Irkutsk region (11.66 percent).

- 22.09.2003 :
Subject : Reuters
Serbia Woos Gazprom BELGRADE, Serbia-Montenegro (Reuters) -- Serbian oil and gas monopoly Naftna Industrija Srbije said it had agreed to buy 850 million cubic meters of gas by the end of the year from its supplier Gazprom, but was hoping for a longer term contract. NIS acting general manager Pavle Vuckovic said the new supplies were agreed in Russia when the two sides also discussed NIS's $265 million debt to Gazprom for gas supplied in the late 1990s, during the rule of Slobodan Milosevic. "We are urging for a longer term agreement but at the moment the Russian side was ready to agree on this quantity," Vuckovic said. Serbia has to import natural gas to meet domestic needs of around 2 billion cubic meters per year.

- 22.09.2003 :
Subject : Reuters
Gas to Europe Up 7.4% Gazprom said Monday that its exports to Western and Central Europe rose 7.41 percent between January and August 2003. The world's largest gas firm, which supplies a quarter of Europe's gas, said in a statement it exported 91.41 billion cubic meters of gas in the first eight months of 2003, compared with 85.10 bcm in the first six months of 2002.

- 11.09.2003 :
Subject : Bloomberg
Domestic Gas Sales Gazprom, the world's biggest natural gas producer, expects this year's domestic gas sales loss to narrow to 9 billion rubles ($294 million) and to 2 billion rubles in 2004 after the government allowed prices to rise. Last year, Gazprom lost 53 billion rubles selling gas to local consumers, the company's director of domestic gas pricing Yelena Karpel said. It has budgeted to sell gas at $27 per 1,000 cubic meters for 2004, compared with $23 for this year, she said. The government caps gas prices at about one-fifth of the European level to cut inflation and to subsidize industries and its population. Gazprom sells about 70 percent of the gas it extracts at home at a loss because of price caps. European gas sales enable the company to offset the domestic loss. "Even though it isn't sufficient to sell gas in Russia at a profit, the price increase allows us to come closer to breaking even on domestic sales," Karpel told reporters at a conference in Moscow.

- 09.09.2003 :
Subject : Bloomberg
Business in Brief Gazprom Wants Euros MOSCOW (Bloomberg) -- Gas monopoly Gazprom, which raised $1.75 billion this year in the country's biggest corporate bond sale, will meet with investors this week to tap the euro-denominated debt market for the first time. The bonds will be of a benchmark size and of intermediate maturity, said a banker at Deutsche Bank, which is managing the sale with UBS. Investors typically regard benchmark-size bonds as being the equivalent of $500 million or more, and intermediate maturity as meaning they will come due in five to seven years. Gazprom in June said it plans to borrow the equivalent of as much as $8.3 billion at home and abroad during the next 3 1/2 years, taking advantage of increased investor confidence to replace existing debt with lower-yielding bonds.

- 05.09.2003 :
Subject : Local mass-media
... Income grew up 35% for the 1-st 1/2 2003, net profit increased almost seven times Aleksey Miller reported at the meeting. According to estimation gas extraction volume in 2003 will exceed the plan and should reach 540 000 mill cub.m. For 8 months 2003 gas extraction volume made 353700 mill cub.m. that's by 12,5% more compared to the same period 2002. The plan is already exceeded by 7200 mill cub.m.

- 09.2003 :
Subject : Reuters
Gazprom Eurobond LONDON (Reuters) -- Gazprom offered a 1 billion euro, seven-year bond for sale Tuesday, lead managers Deutsche Bank and UBS said. The loan participation notes were issued via Gaz Capital SA and mature on Sept. 27, 2010. The bond pays a coupon of 7.8 percent, and was priced at par to yield 398 basis points over the 5.25 percent July 2010 Bund, or 387 basis points over the benchmark swaps curve. The deal, which was increased ahead of launch from 750 million euros, was issued under Gazprom's $5 billion debt program. Gazprom said Monday that the bond sale was oversubscribed, hence the increase in size.

- 09.2003 :
Subject : Moscow Times
BASF, Gazprom Project Gazprom, the world's largest natural gas producer, and Germany's BASF AG may cooperate in a project to extract gas from the Caspian seabed off Turkmenistan, Gazprom said in a statement. Alexander Ananenkov, a Gazprom deputy chief executive, and John Feldmann, a BASF management board member, discussed the project at a meeting in St. Petersburg, Gazprom said Friday. Wintershall AG, the oil and gas unit of Ludwigshafen, Germany-based BASF, works with Gazprom in the countries of the former Soviet Union. "Turkmenistan is proposing for us to develop this field, and we are discussing possible cooperation with Wintershall," Igor Volobuyev, a Gazprom spokesman, said. Moscow-based Gazprom didn't name the field or specify its reserves. Turkmenistan has more than 2 trillion cubic meters of gas reserves, enough to meet demand in North America for almost three years. The only gas pipeline from the Central Asian nation runs to Russia and connects to the Gazprom-owned network.

- 17.07.2003 :
Subject : Moscow Times
Thursday, Jul. 17, 2003. Business in Brief Gazprom, BASF Plans MOSCOW (Bloomberg) --Gazprom, the world's largest natural gas producer, said a joint venture with Germany's BASF AG has enough gas reserves to meet Western Europe's needs for three years. The companies plan to develop the Urengoi field in Siberia, which holds 1.6 trillion cubic meters of recoverable gas reserves, Gazprom said in a statement. Gazprom and BASF announced the venture last month and are due to sign the formal agreements Thursday in Moscow. The new venture plans to produce 118 billion cubic meters of gas at the Urengoi field, selling 70 percent of it domestically and exporting the rest, Gazprom said in a statement last month. The venture will develop gas deposits known as Achimovsky layers, Gazprom said in the statement.

- 20.06.2003 :
Subject : Vedomosti
Individuals leaves Gazprom MOSCOW - Share helded by natural persons in Gazprom has decreased from 16.06% to 15.06 during since the beginning of year until May 2003. Foreigners held 11.5%. According to the words of Mr Krasnenkov, Gazprom's member of the board, Gazprom helds about 13% of its own shares via its affiliated companies.

- 02.2003 :
Subject : Rusenergy
Gazprom Sets Forth Strategic Priorities By Ivan Gribanov Gazprom's Board of Directors plans to adopt a 'program for the comprehensive industrial development of the Yamal Peninsula fields' in late March. This program will become the foundation of the company's strategic development till 2010. The Yamal Peninsula and the estuaries of the Ob and Taz rivers are expected to be major regions for the expansion of Gazprom's gas production. But in the immediate future, efforts will be focused on developing the Achimov gas reservoirs of Urengoi as well as reserves in the Nadym-Pur-Tazovsky district. Development operations at the Shtokman field in the Barents Sea, which TotalFinaElf, Norsk Hydro, Conoco and Fortum have shown much interest in, will start later. Priorities Determined Key provisions of the Yamal Program are as follows: First, Gazprom has defined the Yamal Peninsula as the region of its strategic interests and the major area for field development to 2010 and beyond, ensuring annual gas output of no less than 530 billion cubic meters. Second, Gazprom intends to start exploring new deposits. The program of geological exploration in 2002-2008, which is to be approved along with Gazprom's strategic priorities, stipulates intensifying work at sites in the offshore area in the Ob and Taz estuaries as well as on the Yamal shelf. Its aim is to ensure a total gas reserve increase of 2.5 trillion cubic meters. Third, since commercial gas production at Yamal and in the surrounding area has not been brought in line yet, Gazprom people are going to take 'exhaustive measures' to increase gas extraction at the Zapolyarnoe field, which is already onstream, to the targeted level of 100 billion cubic meters a year. Fourth, within the time period before the beginning of the development of the Yamal deposits, Gazprom plans to begin working with the Aneryakhinskaya area reserves and constructing the Kharvutinskaya site of the Yamburg field as well as bringing the Pestsoviy, Vynga-Yakhinskiy, Ety-Purovskiy fields and the Valanzhinskiy reservoirs of En-Yakhinskiy field onstream. Fifth, in the first half of this year Gazprom intends to work out a program of scientific and technical confirmation for the complex development of the Achimov reservoirs as a raw base to support and increase output of liquid hydrocarbons. This is intended to offset gas recovery from the deeper gas-bearing horizons of Urengoi and other almost depleted fields in Western Siberia. Distant Future Adopting the Yamal development program will mean that other large fields, above all the gigantic Shtokman field on the deep-water shelf of the Barents Sea with gas reserves of over three trillion cubic meters, will be developed in the more distant future. And this is quite understandable. The simultaneous implementation of two gigantic projects, would be, first, too costly for Gazprom and, second, might result in intense competition between gas sellers on domestic and foreign markets. In January Gazprom's Board decided 'to go on with the supplementary exploration of the Shtokman field, drilling an exploratory well and undertaking the necessary scientific research as well as the design and prospecting work to make the project more attractive in terms of drawing investments'. This means that investments in the Shtokman project will be moderate. Those foreign investors still targeting it (such as TotalFinaElf, Norsk Hydro, Conoco and Fortum) will not supply the necessary $12 billion for the project's first stage. ong those distanced projects is the one concerning Gazprom's expansion to Asian markets. The position of the company's senior executives on the outlook for gas shipments to China was clarified by the statement of Pyotr Rodionov, a former member of the board recently forced to resign. In January he said at a press conference that the decision on gas shipments to China from Eastern Siberia, the Far East and Central Asia would not be finalized before 2010. In other words, Gazprom's plans to participate in constructing the 4200-kilometer Xingjiang-Shanghai gas pipeline sooner than the next eight years do not mean that Russian gas will join the trans-Chinese flow. Rather, they mean that the Russian side will act merely as a participant in one of supplementary projects, possibly the exploration and development of gas fields in the western parts of China. Great and Mighty Yamal There are 25 large discovered fields of natural gas at Yamal with total reserves of more than 13 trillion cubic meters. Developing them to the extent that it would be possible to start export shipments in commercial quantities would require around $44 billion, according to a Gazprom estimate from the early 1990s. So far the company has been unable to acquire this amount and only recently the Ministry of Natural Resources has been threatening to withdraw licenses given to Gazprom subsidiaries such as Nadymgazprom and Urengoigazprom since all terms stipulated in licensing agreements have long been neglected. It has become evident that Gazprom intends to exploit its ties with the president and request a rescheduling of the licenses' deadlines. In January the company's board decided that along with the Yamal-Nenetsk Autonomous District authorities it will work out and submit to the government in the first half of 2002 the draft federal legislation 'on state support measures for the industrial development of fields on the Yamal Peninsula'. Although Yuri Neyolov, the governor of Yamal insists that the industrial production of natural gas at Yamal could be started in 2007, this timeframe seems overly optimistic. Adverse working conditions and the complicated geological structure of the strata in Yamal's reservoirs make the primary production cost in this region several times higher than those at onstream fields. Gas Prices Make the World Go Round Costly Yamal gas can find its customers only if prices on the world market grow by at least 1.5-2 times from the current levels and hold steady at that level for enough time. Hypothetically speaking such a situation could emerge in the second half of this decade but there are no guarantees of this. The project to develop the more deep-seated Achimov reservoirs of Urengoi seems as close to the real thing as possible. Gazprom has secured the support of its German partner, Wintershall AG, a subsidiary of BASF, in this endeavor. But Gazprom's problems, both financial and technological, still persist. Last year Wintershall walked out on Gazprom's Prirazlomniy project; furthermore, its participation in the Urengoi project has not been solidified as of the present time. All things considered, the strategic decisions being made by Gazprom are perceived only as statements of intent. Whether they will be implemented depends on two factors: the level of world gas prices and the declared resolve of the Russian government to raise gas tariffs on the domestic market. Given Gazprom's $9 billion in debts, it appears unlikely that the gas giant will find any other stable sources of financing anytime in the near future.

General data as at 03.02.2003: Gazprom is the world leader in the prospected reserves of gas. The Company has licenses for the development of 140 gas and gas condensate deposits with commercial stocks of gas exceeding 30 trillion cubic metres. Half of these deposits are already being exploited. The audit of the stocks of Gazprom's raw material base is being carried out by DeGoyer and MacNaughton. The Company is the leader in the extraction of primary energy sources in Russia. In 1999 it produced over 550 billion cubic metres of gas, which is 94% of Russia's gas production or 23% of that of the world. While possessing a unique raw material base, Gazprom continues its intensive work in geological prospecting. The further growth of the reserves and the extraction of hydrocarbon fuel at the turn of the 21st century will mainly be connected with the development of Russia's shelf. At present the development of the Arctic shelf holds a special place in Gazprom's activity. A considerable share of the extracted gas, gas condensate and oil is carried by OAO Gazprom's gas transporting network -- the world's best pipe-line system. Its main part operates for the transfer of fuel in the westward direction-from major deposits in West Siberia to the densely populated regions in the country and outside it-to Europe, the CIS and the Baltic countries. Part of the gas pipelines begin in the gas fields of the Volga-Urals region, including those in Orenburg and Astrakhan. Reliable consumer supplies in and outside of Russia are guaranteed by a ramified network of underground gas reservoirs, which make it possible to level out seasonal consumption fluctuations. The Company constantly develops the processing capacities of the raw materials it produces. Gazprom possesses a production base and considerable reserves for creating new gas and chemical production lines. At present Gazprom constitutes an industrial complex that consists of mainstream, auxiliary and fringe productions, which not only produce and process gas, oil and condensates, but also turn out other produce-gas extracting and gas processing equipment, industrial products, building materials and consumer goods. The advanced achievements of scientists and technological specialists are widely applied at all stages of the production process in the gas industry. The high technological standards of Gazprom's enterprises have helped them to hold out when market relations were being established and became a starting ground for their further development. And today the United Gas Supply System of Russia is constantly being improved owing to the development and introduction of the most advanced technologies. By now the Company has formed a mighty scientific potential. More than 3,000 people work in its 14 research and design organizations, including 70 doctors and 510 candidates of science. Gazprom's own scientific institutions carry out 42% of the research, experimental and design jobs. Among Gazprom's scientific partners are institutes and design bureaus of industry's machine-building sectors, institutes of the Russian Academy of Sciences, and higher educational establishments. Many of the Company's scientific and technical programs make wide use of defence enterprises. Gazprom and conversion is an efficient pooling of the efforts of developers on a nationwide scale. Gazprom is an active participant and organizer of international and Russian scientific forums dealing with fundamental and applied problems. The subject matter of scientific research is defined by the priority directions of Gazprom's conception of its scientific-technical policy up to the year 2015. The Conception groups 32 programs on the most important problems of the gas sector and the power industry as a whole, as well as the formation of global sectoral information systems. The scientific-technical policy in the gas industry is being implemented as the development of new deposits is becoming ever more complicated, when a large volume of work has to be carried out in the technical modernization of operating enterprises and a toughening of ecological safety standards are becoming stricter. For the sake of attain specific goals set out in the Conception of its scientific and technical policy, Gazprom closely cooperates with leading foreign firms. General data as at 2001: Gazprom is the world leader in the prospected reserves of gas. The Company has licenses for the development of 140 gas and gas condensate deposits with commercial stocks of gas exceeding 30 trillion cubic metres. Half of these deposits are already being exploited. The audit of the stocks of Gazprom's raw material base is being carried out by DeGoyer and MacNaughton. The Company is the leader in the extraction of primary energy sources in Russia. In 1999 it produced over 550 billion cubic metres of gas, which is 94% of Russia's gas production or 23% of that of the world. While possessing a unique raw material base, Gazprom continues its intensive work in geological prospecting. The further growth of the reserves and the extraction of hydrocarbon fuel at the turn of the 21st century will mainly be connected with the development of Russia's shelf. At present the development of the Arctic shelf holds a special place in Gazprom's activity. A considerable share of the extracted gas, gas condensate and oil is carried by OAO Gazprom's gas transporting network - the world's best pipe-line system. Its main part operates for the transfer of fuel in the westward direction-from major deposits in West Siberia to the densely populated regions in the country and outside it-to Europe, the CIS and the Baltic countries. Part of the gas pipelines begin in the gas fields of the Volga-Urals region, including those in Orenburg and Astrakhan. The Company constantly develops the processing capacities of the raw materials it produces. Gazprom possesses a production base and considerable reserves for creating new gas and chemical production lines. At present Gazprom constitutes an industrial complex that consists of mainstream, auxiliary and fringe productions, which not only produce and process gas, oil and condensates, but also turn out other produce-gas extracting and gas processing equipment, industrial products, building materials and consumer goods. Gazprom's own scientific institutions carry out 42% of the research, experimental and design jobs. Among Gazprom's scientific partners are institutes and design bureaus of industry's machine-building sectors, institutes of the Russian Academy of Sciences, and higher educational establishments.

Events History : Gazprom is the world's biggest gas company which accounts for 94% of Russia's gas production (23% of the world output). We produce about 8% of the country's GDP and contribute about 25% of all tax revenues to the federal budget. More than half-a-million Russians and over 100,000 foreigners are our shareholders. About 300,000 people work in the Company's enterprises. The history of Gazprom as a joint-stock company dates back to February 1993, when state gas concern Gazprom was privatized. The latter was set up in 1989 on the basis of the Ministry of the Gas Industry of the USSR. Privatization is an important stage in the history of the country's gas sector. During this process the Company managed to preserve its corporate assets which absorbed the previous experience in the development of the domestic gas industry. Gazprom unites into an integral technological and organizational structure more than 40 subsidiaries and a number of companies with Gazprom's participation. Together they ensure the entire cycle of operations with gas and accompanying raw materials-from production of its own equipment, geological prospecting and drilling to consumer deliveries. Apart from the extraction of gas at prospected fields, the Company also develops new ones and builds trans-continental gas pipelines. Apart from that, the Company produces unique equipment for its own needs, builds up its production of chemical and other products, including in cooperation with partners. It is engaged in a lot of work with the regions of the Russian Federation, and continues to carry out its large-scale programs of providing new territories with gas. The Company's management improves Gazprom's strategy, defines the priorities of its development as a whole and within the framework of separate projects, and optimizes the management structure. The main indices of the Company's activity evidence its stability and good prospects for dynamic development in the 21st century. The accumulated experience and material resources - the high qualifications of its staff, the selfless work of gas employees and favourable market conditions have laid a solid foundation for Gazprom's further prosperity.

Registration History
- 26.07.1995 :
Registration number : 22726
Registr. authority : Register Chamber (Moscow, Russian Federation)
( the data as of 26.07.1995, cancelled since 02.08.2002 )

Legal Form History
- 26.07.1995 : Public JSC by Russian Law
( the data as of 26.07.1995, cancelled since 23.07.1998 )

- 25.02.1993 : State enterprise
( the data as of 25.02.1993, cancelled since 26.07.1995 )

Capital History
- 31.07.1996 : 236 735 129 th RUR (registered)
( the data as of 31.07.1996, cancelled since 23.08.1999 )

- 25.02.1993 : 89 255 660 RUR (registered)
( the data as of 25.02.1993, cancelled since 31.07.1996 )

APPENDIX A

Financial Statements
- 01.10.2006 :
Fiscal period: 9 month(s), currency: RUB, th

BALANCE SHEET
A S S E T S 
I.     NON-CURRENT ASSETS
110    Intangible assets
571.00
111        concessions, patents, licences, trade marks, etc.
571.00
112        organization costs
113        goodwill
120    Fixed assets
2 621 661 110.00
121        land
12 476.00
122        buildings, constructions, plant and equipment
2 619 378 522.00
130    Construction in progress
35 886 877.00
135    Gainful investments in tangible assets
136        property to be leased out
137        property allocated by hiring-out contracts
140    Long-term financial investments 
650 442 460.00
141        investments in subsidiaries
546 641 847.00
142        investments in associated companies
26 196 570.00
143        investments in other companies
349 268.00
144        long-term loans to other companies
14 699 358.00
145       Deferred tax assets
150    Other non-current assets
4 537 691.00
190    NON-CURRENT ASSETS TOTAL
3 319 252 274.00
II.    CURRENT ASSETS
210    Stock
130 509 327.00
211        raw materials and consumables
1 410 033.00
212        working and productive animals
131.00
213        work in progress
89 143 142.00
214        finished goods and goods for resale
37 479 109.00
215        shipped goods
903 755.00
216        deferred charges
1 573 157.00
217        other supplies and expenditures
220    VAT Tax on valuables acquired
37 123 608.00
230    Long-term debtors
167 945 092.00
231        trade debtors
18 915 314.00
232        bills receivable
233        amounts owed by subsidiaries and related companies
234        payments in advance
15 130 644.00
235        other debtors
133 899 134.00
240    Short-term debtors
666 308 933.00
241        trade debtors
195 796 604.00
242        bills receivable
243        amounts owed by subsidiaries and related companies
244        subscribed capital called but not paid
245        payments in advance
17 471 675.00
246        other debtors
453 040 654.00
250    Short-term financial investments
17 155 843.00
251        short-term credits extended to organizations
9 465 740.00
252        own shares and parts redeemed from shareholders
253        other short-term financial investments
260    Cash at bank and in hand (total)
34 006 090.00
261        cash in hand
8 486.00
262        cash at settlement account
3 367 892.00
263        cash at currency account
26 043 697.00
264        other cash
4 586 015.00
270    Other current assets
618.00
290    CURRENT ASSETS TOTAL
1 053 049 511.00
300    TOTAL ASSETS
4 372 301 785.00
E Q U I T Y    A N D    L I A B I L I T I E S
III.   CAPITAL AND RESERVES
410    Share capital
118 367 564.00
420    Additional capital
2 583 765 186.00
430    Reserve capital
8 636 001.00
431        legally prescribed reserves
8 636 001.00
432        reserves provided by the articles of association 
470    Retained earnings (Non-covered loss)
836 982 703.00
490    CAPITAL AND RESERVES TOTAL
3 547 751 454.00
IV.    LONG-TERM LIABILITIES
510    Loans and credits
444 470 536.00
511        long-term amounts owed to credit institutions
253 930 974.00
512        long-term loans
190 539 562.00
515        deferred tax liabilities 
97 898 451.00
520    Other long-term liabiliteis
5 504.00
590    LONG-TERM LIABILITIES TOTAL
542 374 491.00
V.     SHORT-TERM LIABILITIES
610    Loans and credits
78 671 691.00
611        short-term amounts owed to crdit institutions
612        short-term loans
620    Creditors
167 153 902.00
621        trade debts
138 218 611.00
622        accrued payroll
623        amounts owed to the state non-budget funds
624        tax liabilities
43 287.00
625        other creditors
7 807.00
630      Dividends in arears
35 528 043.00
640      Deferred income
3 487.00
650      Deferred charges reserve
818 717.00
660    Other short-term liabiliteis
690    SHORT-TERM LIABILITIES TOTAL
282 175 840.00
700    EQUITY AND LIABILITIES TOTAL
4 372 301 785.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
PROFIT AND LOSS ACCOUNT
    I. ORDINARY ACTIVITY INCOME AND CHARGES
010 Sales revenue (Income from sales of goods, work,
1 185 836 552.00
       services less VAT tax, excise tax and similar 
       compulsary payments)
020 Cost of goods, work, services
421 509 268.00
029 Gross profit
764 327 284.00
030 Distribution costs
376 639 006.00
040 Administrative and management costs
11 797 172.00
050 Profit on sales
375 891 106.00
    II. OPERATING INCOME AND CHARGES
060 Interest receivable
2 231 146.00
070 Interest payable
30 059 804.00
080 Income from participating interests
30 641 769.00
090 Other operating income
970 771 327.00
100 Other operating charges
981 927 094.00
    III. INVESTMENT INCOME AND CHARGES
120 Non-operating income
63 099 111.00
130 Non-operating charges
91 763 833.00
140 Profit (loss) before taxation
338 883 877.00
       (050+060-070+080+090-100+120-130)
141 Deferred tax assets
668 882.00
142 Deferred tax liabilities
8 805 427.00
150 Income-tax and other similar compulsary payments
94 849 933.00
160 Profit (loss) from ordinary activity
    IV. EXTRAORDINARY INCOME AND CHARGES
170 Extraordinary income
769.00
180 Extraordinary charges
620.00
190 Net profit (undistributed profit/loss for fiscal period)
235 830 659.00
       (160+170-180) 


- 01.01.2006 :
Fiscal period: 12 month(s), currency: RUB, mio

PROFIT AND LOSS ACCOUNT
    I. ORDINARY ACTIVITY INCOME AND CHARGES
010 Sales revenue (Income from sales of goods, work,
1 231 262.00
       services less VAT tax, excise tax and similar 
       compulsary payments)
020 Cost of goods, work, services
425 191.00
029 Gross profit
806 071.00
030 Distribution costs
433 954.00
040 Administrative and management costs
13 973.00
050 Profit on sales
358 144.00
    II. OPERATING INCOME AND CHARGES
060 Interest receivable
4 142.00
070 Interest payable
35 558.00
080 Income from participating interests
12 053.00
090 Other operating income
1 245 624.00
100 Other operating charges
1 246 716.00
    III. INVESTMENT INCOME AND CHARGES
120 Investment income
48 052.00
130 Investment charges
96 512.00
140 Profit (loss) before taxation
289 228.00
       (050+060-070+080+090-100+120-130)
141 Deferred Tax Assets
-1 066.00
142 Deferred Tax Charges
-11 733.00
150 Income-tax and other similar compulsary payments
-72 975.00
160 Profit (loss) from ordinary activity
    IV. EXTRAORDINARY INCOME AND CHARGES
170 Extraordinary income
180 Extraordinary charges
190 Net profit (undistributed profit/loss for fiscal period)
203 439.00
       (160+170-180) 
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
A S S E T S 
I.     NON-CURRENT ASSETS
110    Intangible assets
111        concessions, patents, licences, trade marks, etc.
112        organization costs
113        goodwill
120    Fixed assets
2 262 769.00
121        land
12.00
122        buildings, constructions, plant and equipment
2 260 719.00
130    Construction in progress
145 047.00
135    Gainful investments in tangible assets
136        property to be leased out
137        property allocated by hiring-out contracts
140    Long-term financial investments 
639 129.00
141        investments in subsidiaries
546 642.00
142        investments in associated companies
26 184.00
143        investments in other companies
416.00
144        long-term loans to other companies
10 135.00
145        other long-term financial investments
6 055.00
150    Other non-current assets
4 509.00
190    NON-CURRENT ASSETS TOTAL
3 057 510.00
II.    CURRENT ASSETS
210    Stock
95 251.00
211        raw materials and consumables
1 375.00
212        working and productive animals
213        work in progress
63 552.00
214        finished goods and goods for resale
27 286.00
215        shipped goods
561.00
216        deferred charges
2 477.00
217        other supplies and expenditures
220    VAT Tax on valuables acquired
37 843.00
230    Long-term debtors
148 478.00
231        trade debtors
20 001.00
232        bills receivable
233        amounts owed by subsidiaries and related companies
234        payments in advance
21 587.00
235        other debtors
106 890.00
240    Short-term debtors
437 558.00
241        trade debtors
15 228.00
242        bills receivable
243        amounts owed by subsidiaries and related companies
244        subscribed capital called but not paid
245        payments in advance
18 475.00
246        other debtors
266 856.00
250    Short-term financial investments
16 204.00
251        short-term credits extended to organizations
4 941.00
252        own shares and parts redeemed from shareholders
253        other short-term financial investments
260    Cash at bank and in hand (total)
73 045.00
261        cash in hand
2.00
262        cash at settlement account
33 863.00
263        cash at currency account
29 595.00
264        other cash
9 585.00
270    Other current assets
1.00
290    CURRENT ASSETS TOTAL
808 380.00
300    TOTAL ASSETS
3 865 890.00
E Q U I T Y    A N D    L I A B I L I T I E S
III.   CAPITAL AND RESERVES
410    Share capital
118 368.00
420    Additional capital
2 191 254.00
430    Reserve capital
8 636.00
431        legally prescribed reserves
8 636.00
432        reserves provided by the articles of association 
440    Provisions for pensions and similar obligations
450    Financing and receipts having special purposes
460    Profit brought forward from previous years
465    Non-covered loss brought forward from previous years
470    Retained earnings for the current year
645 060.00
475    Non-covered loss for the current year
490    CAPITAL AND RESERVES TOTAL
2 964 318.00
IV.    LONG-TERM LIABILITIES
510    Loans and credits
615 098.00
511        long-term amounts owed to credit institutions
401 756.00
512        long-term loans
213 342.00
515        deferred tax liabilities 
89 093.00
520    Other long-term liabiliteis
590    LONG-TERM LIABILITIES TOTAL
704 191.00
V.     SHORT-TERM LIABILITIES
610    Loans and credits
62 160.00
611        short-term amounts owed to crdit institutions
12 707.00
612        short-term loans
620    Creditors
133 170.00
621        trade debts
100 123.00
622        bills of exchange payable
381.00
623        amounts owed to subsidiaries and related companies
624        accrued payroll
16.00
625        amounts owed to the state non-budget funds
5.00
626        amounts owed to the budget
16 245.00
627        advance payments received
1 250.00
628        other creditors
15 149.00
630      Dividends in arears
44.00
640      Deferred income
4.00
650      Deferred charges reserve
2 003.00
660    Other short-term liabiliteis
690    SHORT-TERM LIABILITIES TOTAL
197 381.00
700    EQUITY AND LIABILITIES TOTAL
3 865 890.00


- 01.01.2005 :
Fiscal period: 12 month(s), currency: RUB, mio

PROFIT AND LOSS ACCOUNT
    I. ORDINARY ACTIVITY INCOME AND CHARGES
010 Sales revenue (Income from sales of goods, work,
887 230.67
       services less VAT tax, excise tax and similar 
       compulsary payments)
020 Cost of goods, work, services
317 406.05
029 Gross profit
211 592.55
030 Distribution costs
347 190.97
040 Administrative and management costs
11 041.11
050 Profit on sales
    II. OPERATING INCOME AND CHARGES
060 Interest receivable
2 829.16
070 Interest payable
27 779.29
080 Income from participating interests
5 239.57
090 Other operating income
791 309.01
100 Other operating charges
766 339.05
    III. INVESTMENT INCOME AND CHARGES
120 Investment income
130 Investment charges
140 Profit (loss) before taxation
210 717.88
       (050+060-070+080+090-100+120-130)
150 Income-tax and other similar compulsary payments
26 157.31
160 Profit (loss) from ordinary activity
    IV. EXTRAORDINARY INCOME AND CHARGES
170 Extraordinary income
63 347.80
180 Extraordinary charges
69 465.47
190 Net profit (undistributed profit/loss for fiscal period)
161 084.02
       (160+170-180) 
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
A S S E T S 
I. NON-CURRENT ASSETS
110  Intangible assets
111    organization costs
112    concessions, patents, licences, trade marks, etc.
120  Fixed assets
1 327 803.00
121    land
2.00
122    buildings, constructions, plant and equipment
1 326 144.00
130  Construction in progress
132 007.00
140  Long-term financial investments 
300 808.00
141    investments in subsidiaries
204 581.00
142    investments in associated companies
13 749.00
143    investments in other companies
7 542.00
144    long-term loans to other companies
17 758.00
145    other long-term financial investments
7 122.00
150  Other non-current assets
946.00
190  NON-CURRENT ASSETS TOTAL
1 768 686.00
II. CURRENT ASSETS
210  Stock
79 301.00
211    raw materials and sonsumables
1 223.00
212    working and productive animals
213    expandable supplies
214    work in progress
53 176.00
215    finished goods and goods for resale
23 007.00
216    shipped goods
584.00
217    deferred charges
1 310.00
218    other supplies and expenditures
220  VAT Tax on valuables acquired
24 666.00
230  Long-term debtors
133 501.00
231    trade debtors
11 648.00
232    bills receivable
1 060.00
233    amounts owed by subsidiaries and related companies
234    payments in advance
27 749.00
235    other debtors
94 104.00
240  Short-term debtors
399 476.00
241    trade debtors
128 002.00
242    bills receivable
243    amounts owed by subsidiaries and related companies
244    subscribed capital called but not paid
245    payments in advance
9 415.00
246    other debtors
262 059.00
250  Short-term financial investments
41 403.00
251    short-term credits extended to organizations
3 769.00
252    own shares and parts redeemed from shareholders
253    other short-term financial investments
260  Cash at bank and in hand (total)
64 815.00
261    cash in hand
1.00
262    cash at settlement account
23 598.00
263    cash at currency account
21 798.00
264    other cash
19 418.00
270  Other current assets
2.00
290  CURRENT ASSETS TOTAL
743 163.00
III. LOSSES
310  Non-covered losses brought forward from prev. years
320  Non-covered losses for the current fiscal year
390  LOSSES TOTAL
399  TOTAL ASSETS
2 511 849.00
E Q U I T Y  A N D  L I A B I L I T I E S
IV. CAPITAL AND RESERVES
410  Share capital
118 368.00
420  Additional capital
1 252 736.00
430  Reserve capital
8 636.00
431    legally prescribed reserves
8 636.00
432    reserves provided by the articles of association 
440  Provision funds
450  Provisions for pensions and similar obligations
460  Financing and receipts having special purposes
470  Profit brought forward from previous years
480  Retained earnings for the current year
472 221.00
490  CAPITAL AND RESERVES TOTAL
1 851 960.00
V. LONG-TERM LIABILITIES
510  Loans and credits
381 564.00
511    long-term amounts owed to credit institutions
260 769.00
512    long-term loans
120 795.00
520  Other long-term liabiliteis
590  LONG-TERM LIABILITIES TOTAL
459 533.00
VI. SHORT-TERM LIABILITIES
610  Loans and credits
57 924.00
611    short-term amounts owed to credit institutions
5 678.00
612    short-term loans
52 246.00
620  Creditors
138 148.00
621    trade debts
91 821.00
622    bills of exchange payable
1 033.00
623    amounts owed to subsidiaries and related companies
624    accrued payroll
23.00
625    amounts owed to the state non-budget funds
4.00
626    amounts owed to the budget
16 534.00
627    advance payments received
681.00
628    other creditors
28 053.00
630  Dividends in arears
832.00
640  Deferred income
1.00
650  Consumption funds
660  Deferred charges reserve
3 449.00
670  Other short-term liabiliteis
690  SHORT-TERM LIABILITIES TOTAL
200 355.00
699  EQUITY AND LIABILITIES TOTAL
2 511 849.00



INFORMATION IS STRICTLY CONFIDENTIAL. IT MAY NOT BE REPRODUCED IN WHOLE OR IN PART. DESTINED FOR CUSTOMER ONLY.
* * *   E N D   O F   R E P O R T   * * *
Information in this report is for sample purposes only. Individual items included only when available.

Copyright 2007 , Graydon UK Ltd.
© 2011 CRIF Corporation. All Rights Reserved.