Gazprom prepares consolidated financial statements for 2001

The Gazprom oil giant prepared its 2001 consolidated financial statementsin accordance with international accounting standards. They were approvedby PricewaterhouseCoopers Audit.According to Gazprom's press service, sales proceeds were estimated inaccordance with international accounting standards and reached 619.325bnrubles (about $19.7bn) in 2001 against 641.520bn (about $20.4bn) in 2000. A 3.5 percent decrease in sales proceeds was mainly due to a decrease inthe volume of gas sales, lower average gas prices and revision of someaverage financial indicators in accordance with the rate of inflation. In addition, lower sales proceeds were caused by a decrease in operatingcosts by 10 percent, i.e. from 483.258bn (about $15.3bn) in 2000 to435.565bn rubles (about $13.8bn) in 2001. As a result, the profit on saleswent up 16 percent in 2001 to 183.760bn (about $5.83bn), against 158.262bnrubles (about $5.02bn) in 2000.In 2001, Gazprom's pretax profit amounted to 201.294bn rubles (about$6.39bn), which is 10 percent less compared to 2000. All financial resultsare given in accordance with the purchasing power of the ruble as ofDecember 31, 2001..

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