Gazprom Predicts USD 6 Billion Profit in 2004

Gazprom estimates that it will make a consolidated post-tax profit of 200 billion roubles (USD 6.35 billion) in 2004. According to the gas giant's press office, these figures are included in Gazprom's preliminary predictions for its social and economic development in 2004.

According to the predictions, in 2004 Gazprom will extract 541.9 billion cubic metres of natural gas, which is 10.2 billion more than is planned in 2003. Production of gas condensate is estimated at 10.9 million tonnes (1.3 million tonnes more than in 2003), and oil production at 760,000 tonnes (710,000 tonnes in 2003). Gazprom's subsidiaries are expected to process 33.5 billion cubic metres of natural gas in 2004 (32.7 billion cubic metres in 2003) and 10,4 million tonnes of gas condensate (9,2 million tonnes), and refine 680,000 tonnes of oil (630,000 tonnes). The company intends to supply Russian customers with 363.9 billion cubic metres of gas in 2004 (350.3 billion in 2003) and export 196.9 billion cubic metres (187.8 billion). As reported earlier, Gazprom's consolidated post-tax profit in 2002 was 102.1 billion roubles (USD 3.24 billion)

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.

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