investment and construction department of gazprom ...€¦ · 2010 (fact) 2011 (target) gas...

Gazprom Investment Policy

Investment and Construction Department of Gazprom

Department Head – Yaroslav Golko

Meeting of Gazprom’s top executives with chief editors of Russian regional mass media, 12.12.2011

0

Unified Gas Supply System

1 Gazprom Investment Policy

Gazprom Investment Policy 2

Main Strategic Goals and Objectives to Determine Investment Programs:

• ensuring gas production targets;

• ensuring reliable gas supplies to Russian consumers and performance under export contracts;

• ensuring reliable and safe operation of Unified Gas Supply System;

• boosting gas chemistry product range, increasing extraction of valuable components from gas, more products of deep processing;

• ensuring compliance with social obligations.


Investment Performance of Gazprom in 2007-2011 RUB billion

1,276.48

777.31 737.05

803.69 895.37

2007 (fact) 2008 (fact) 2009 (fact) 2010 (fact) 2011 (target)

Description of production assets 2007 (fact)

2008 (fact)

2009 (fact)

2010 (fact)

2011 (target)

Gas trunklines and branches, km 1,156.49 1,380.98 864.8 1,549.49 2,337.84

Compressor stations, unit/1,000 KW 4 / 355 7 / 528 2 / 252 2 / 72 9 / 1020

Compressor stations at UGS, unit/1,000 KW 1 / 68 - / 20 - - 2 / 36

Active capacity of UGS, billion m3 0.35 0.25 - 0.22 1.38

Wells connected to UGS, units 15 10 4 17 17

Booster compressor stations, unit/1,000 KW 1 / 80 2 / 160 2 / 48 - 1 / 94

Gas treatment units, unit/billion m3/year 1 / 8.2 1 / 0.018 1 / 3.48 2 / 6.67 1 / 2.58

Production gas wells, units 91 89 22 119 120

Production oil wells, units 2 - 8 9 10

Main Production Assets Commissioned from 2007 to 2011

4 4 Gazprom Investment Policy


Prioritized Gas Production and Transmission Projects

• Pre-development of Bovanenkovo field on Yamal Peninsula (gas reserves – 4.9 trillion m3, designed output – 115 billion m3 annually)

• Bovanenkovo – Ukhta and Ukhta – Torzhok gas trunkline systems (total length > 2,600 km, diameter – 1,420 mm, pressure – 11.8 MPa)

• Gryazovets – Vyborg gas pipeline (length – 917 km, diameter – 1,420 mm, pressure – 9.8 MPa)

• Pochinki – Gryazovets gas pipeline (length ~ 650 km, diameter – 1,420, pressure – 7.4 MPa) • SRTO – Torzhok gas pipeline (three additional compressor stations with total capacity of 240 MW commissioned)


Eastern Gas Program Facilities

• Sakhalin – Khabarovsk – Vladivostok gas trunkline (total length to exceed 1,800 km)

• Construction of Kshukskoye and Nizhne-Kvakchikskoye gas and condensate fields

(with total estimated gas output of 750 million m3 per year)

• Pre-development of Kirinskoye gas and condensate field (reserves amount to 100 billion m3 of gas, and 11.4 million t of gas condensate)

• OPF of Kirinsky GCF – Sakhalin MCS gas pipeline (length ~ 140 km, diameter – 1,020 mm)

Gazprom’s Existing and Planned Underground Gas Storage (UGS) Facilities in Russia


Operating UGS facilities with working volume below 5 billion m3

Operating UGS facilities with working volume above 5 billion m3

UGS facilities being engineered/constructed

Areas being explored for UGS facilities

Main gas pipelines

Location of Oil and Gas Chemical Processing Facilities


Gas processing plants (GPP)/complexes Oil refineries Oil and gas chemical production

Olympic Facilities


Gazprom to Children Program Number of commissioned and retrofitted facilities reaches 659, whereof:

-579 sports grounds, tennis lawns and football fields;

-33 sports and recreation centers and stadiums;

-47 children’s sports centers, recreation bases, swimming pools.


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Total Capital Investment of Gazprom Compared to Major Oil and Gas Companies

30.7

22.8

20.5

26.1

34

22.3

31.4

19.2

23.5

20.3 22

.2

19.6

27.1

39.1 40

.1

28.9

19.1 21

.823

21.8

18.4

32.2

41.8

45.6

23.7

21.5

30.2

0

10

20

30

40

50

BP

Chev

ron

Eni

Exxo

nMob

il

Petr

oChi

na

Petr

obra

s

Shel

l

Tota

l

Gazp

rom

USD billion

Russian companies International companies and Gazprom

2008 2009 2010

Information on capital expenditure of foreign oil and gas companies is taken from their annual reports. Most international companies file reports to the US SEC (Securities and Exchange Committee) using Forms 20-F and 10-K, this ensures the uniformity of data to be compared.


8.7 10

.6

3.4

23.5

7.3

6.5

2.6

0.6

0.7 2.

6

21.8

8.9

6.8

3.4

3.3

30.2

4 .0

1.1

0.7 0.

9

0.7

0

5

10

15

20

25

30

35

ROSN

EFT

LUKO

IL

TNK-

BP H

oldi

ng

NO

VATE

K

Tatn

eft

Gaz

prom

nef

t

Gaz

prom

USD billion

Specific Capital Investments in Total Annual Hydrocarbons Output

12

Russian companies

2008 2009 2010


82

97

40 44

27

69

48

29

67

59

20 28

25

52

49

29

77

61

26 35

27

63

62

31

0

20

40

60

80

100

120 RO

SNEF

T

LUKO

IL

NO

VATE

K

TNK-

BP H

oldi

ng

Tatn

eft

Gaz

prom

nef

t

Gaz

prom

Gaz

prom

(e

xclu

ding

gas

tr

ansm

issi

on

and

stor

age)

USD/tons of oil equivalent

Specific Capital Investments in Total Annual Hydrocarbons Output

13

Foreign companies and Gazprom

2008 2009 2010

Gazprom’s figures are 2-3 times lower than in BP, Chevron, Eni, Shell, Total, ExxonMobil, and 4.0 and 5.7 times lower than those of PetroChina and Petrobras, respectively


161

182

231

134

211

187 19

9

165

48

29

102

167

223

138

240

319

185

169

49

29

121

158

204

146

250

354

144

182

62

31

0

100

200

300

400

BP Chev ron Eni Ex x onMobil PetroChina Petrobras Shell Total Gazprom Gazprom (ex cl.gas transmission

and storage)

USD/tons of oil equivalent

Main Ways to Raise Investment Program Efficiency

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- Optimizing capacities commissioning plans - Raising economic efficiency of Gazprom’s investment projects through optimization of

engineering and cost parameters of construction facilities at stage of project documentation review in Company

- Cutting investment projects costs through optimized prices of vital logistic supplies, bidding

procedures and works, and services and monitoring of investment projects to control their compliance with engineering and economic indicators in project documentation

- Continuing interaction with federal executive bodies to bring gas prices to a level ensuring

mobilization of internal sources of investments - Wider use of project financing methods in investment projects - Switching to government-assisted financing for social programs


15

- Оптимизация планов ввода мощностей - Повышение экономической эффективности инвестиционных проектов OAO Gazprom за

счет оптимизации технических и стоимостных параметров объектов строительства в процессе проведения экспертизы проектной документации в Обществе

- Снижение стоимости реализации инвестиционных проектов путем оптимизации цен на

важнейшие виды МТР и проведения конкурентных закупок и мониторинга реализации инвестиционных проектов на соответствие утвержденным технико-экономическим показателям в проектной документации

- Продолжение работы с федеральными органами исполнительной власти по доведению

цен на газ до уровня, обеспечивающего формирование за счет собственных средств источников финансирования инвестиций

- Расширение использования методов проектного финансирования инвестиционных

проектов - Переход на финансирование социальных программ с использованием мер

государственной поддержки


Thank You for Your Attention!

16

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