OAO Gazprom engages in the exploration, production, transportation, and sale of gas in the Russian Federation and internationally. The company also involves in the production and processing of oil, gas condensate, and other hydrocarbons; and sale of refined products. In addition, it engages in the generation and sale of electric and heat energy; storage of gas; and construction activities. The company is an exporter of gas to European countries. As of December 31, 2008, the company’s proved and probable reserves totaled approximately 21.2 tcm of natural gas, 729.8 million tons of gas condensate, and 1278.2 million tons of oil for a total of 140.2 bboe. It also owned 159.5 thousand kilometers long gas pipeline system, including 219 compressor stations with a total capacity of approximately 42.0 thousand MW; operated 865 gas stations; and owned and operated 25 underground gas storage facilities in the Russian Federation. Significant Events On April 29, 2009, JSC Gazprom and The Bulgarian Energy Holding. have agreed to set up a 50:50 joint venture that will build and manage the Bulgarian section of the South Stream gas pipeline, putting an end to media speculation that Moscow could have a bigger stake. The two sides reached a cooperation agreement which would govern their relations until they set up the joint venture company. The company and JP Srbijagas signed a basic cooperation agreement on implementation of the South Stream project on the territory of Serbia. The company and VNG-Verbundnetz Gas AG have signed an agreement to set up a consortium as part of the joint venture creation project in natural gas storage, particularly, for constructing a gas storage facility near Bernburg, Germany. S.N.G.N. RomGaz S.A. has set up a joint venture with the company for underground gas storage facilities. Romgaz and Gazprom each own 50% of the joint venture, which would store natural gas and sell it directly. On June 30, 2009, JSC Gazprom has entered into a joint venture with Nigeria to build a domestic gas pipeline. The 360-kilometer Nigerian gas pipeline is part of the company's plans to further diversify its business portfolio and get a foothold in the African state's oil and gas sector. In August 2009, JP Srbijagas has reached an agreement with JSC Gazprom over the two firms' storage joint venture (JV) in Serbia. In August 2009, JSC Gazprom has entered into an agreement with Petroleos de Venezuela S.A., which is engaged in exploration and production of natural gas, for setting up a joint venture to provide oil and gas services. On September 28, 2009, JSC Gazprom has started building the Adler TES power plant in the Krasnodar Region. On October 19, 2009, Gazprom and Srbijagas have agreed in Vienna to set up a joint venture to modernise the Banatski Dvor underground gas storage facility near Novi Sad in Serbia. On October 20, 2009, Oando PLC as signed an agreement with JSC Gazprom for joint projects in the Nigerian oil and gas industry. In October 2009, JSC Gazprom brought comprehensive gas treatment unit No.22 (CGTU-22) into pilot operation to develop the Achimov deposits in the Urengoy oil and gas condensate field. The company has launched its stand-alone project on gas production from the Achimov deposits featuring a complex geological structure. On December 15, 2009, JSC Gazprom and Vietnam Oil and Gas Corporation signed an agreement to set up a joint venture, called Gazpromviet. Under the agreement, Gazprom and Pietrovietnam plan to cooperate in the development of oil and gas blocks on Vietnam's continental shelf, oil and gas projects in third countries and in Russia, including the development of the Nagumanovskoye oil and gas field and fields in the constituent republic of Sakha (Yakutia), East Siberia and Russia's Far East. Joint Ventures In November 2009, JSC Gazprom and JP Srbijagas created South Stream Serbia AG joint venture to implement the South Stream project in Serbia. South Stream Serbia AG would prepare a feasibility study of the Serbian section of the South Stream project. The company and the government of Irkutsk Oblast have signed a new agreement on gasification, pursuant to which the parties are obliged to jointly develop and implement the programs for the Irkutsk Oblast gasification, as well as to promote the regional gas market.
gazprom pao -spon adr (OGZPY:OTC US)
16 Nametkina Street
Phone: 7 495 719 3001
Fax: 7 495 719 8333www.gazprom.com
|Electricite de France SA||€10.30 EUR||-0.55|
|Enel SpA||€3.43 EUR||-0.10|
|Engie SA||€13.31 EUR||-0.65|
|Eni SpA||€11.12 EUR||-0.51|
|Rosneft OAO||261.70 RUB||-3.80|
|View Industry Companies|
Sponsored Financial Commentaries
To contact GAZPROM PAO -SPON ADR, please visit www.gazprom.com. Company data is provided by Capital IQ. Please use this form to report any data issues.