Gazprom Supplied Over 280 Billion Cubic Metres of Gas to Domestis Market Last Year

In 2002 Gazprom supplied the Russian domestic market with 283.4 billion cubic metres of gas, which was 5.2 billion cubic metres more than the agreed volume. 97.3% of these supplies were paid for. According to the gas concern's press office, these figures were revealed yesterday at a meeting of Gazprom's board, which examined that results of the company's gas sales in 2002.

The meeting noted that of the overall volume of gas supplied to domestic consumers, Gazprom's share, including gas from independent suppliers delivered by its transport system, was 92%. Last year Gazprom supplied 42.4 billion cubic metres of gas to the CIS and Baltic states (of which 28 billion cubic meters was in payment for services provided to transport Russian gas to Europe). The volume of gas exported beyond the former USSR rose by 2.4 billion cubic meters compared to 2001, totaling 129.4 billion cubic metres.

Gazprom's board took a decision to draw up measures to ensure that the targets for gas exports beyond the former USSR are fully met in 2003 (exports of 134 billion cubic metres and sales of USD 13.5 billion). It also decided to widen its retail sales of gas.

Gazprom's authorised capital stock totals 118,367,564,500 roubles (USD 3.75 billion) and consists of 23, 673,512,900 shares with a nominal value of 5 roubles (USD 0.16). The Russian government owns 38.37% of the shares, of which 35% belong to the Property Ministry and 3.7% to the Russian Federal Property fund. Foreign shareholders own 11.5% of the shares, Stroitransgaz owns 5.846%, and 44.28% are divided among 500 thousand companies and private shareholders. In 2002 Gazprom extracted over 521 billion cubic metres of gas. Its net profit for the first nine months of 2002 fell by more than half compared to the previous year, and totaled 15.963 billion roubles (USD 505 million).

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