Report by Alexey Miller, Chairman of the Gazprom Management Committee, at the Annual General Meeting of Shareholders. "It's below the plinth"

”, held on Thursday, the size of the company's dividends for the last year was approved, a new composition of the board of directors was elected and the amount of remuneration to members of the councilor was determined.

Dividends did not come as a surprise - shareholders approved payments at the level of 7.89 rubles. per share, as previously recommended by the board of directors. This is 9.6% higher than payments for the previous year, the total amount will be 187 billion rubles. The state, as the controlling shareholder (specifically, the Federal Property Management Agency and Rosneftegaz), will receive 94 billion rubles. The head of Gazprom said that in this way an optimal balance of dividends and investments in business development is ensured and meets the company's obligations to respect the interests of shareholders. Miller called the dividend-2015 the largest among Russian companies.

The head of East European Gas Analysis, Mikhail Korchemkin, points out that the gas monopoly spent much less money on dividends than it invested in unclaimed gas pipeline projects.

“According to the official data of Gazprom itself, in the first half of 2015 alone, more than 234 billion rubles. was aimed at expanding the unified gas supply system needed to supply gas to the South Stream pipeline,” the expert explains.

However, in Lately both the Russian authorities and Gazprom itself are increasingly saying that they are ready to return to the South Stream project, which Russia was forced to abandon at the end of 2014 due to claims from the European Commission.

However, the dividends of the gas holding in any case should have been approximately twice as high.

The fact is that the company will pay 50% of the profit on Russian standards accounting, while according to the April government decree, at least 50% should be allocated to dividends under those accounting standards where profits are higher. In this case, this international standard financial statements (Gazprom's profit under IFRS in 2015 amounted to 787.1 billion rubles).

However, Gazprom managed to convince the authorities of the need to reduce payments. As the Minister said earlier economic development, the government went to meet the company because of its large investment program and the growth of the tax burden.

By the way, Alexei Ulyukaev joined the new board of directors of Gazprom.

Another "newcomer" was the head of the board of Rosselkhozbank Dmitry Patrushev. The former Minister of Property Relations of the Russian Federation, Farit Gazizullin, left the council. In addition, in December last year, the head of the department of the law faculty of the St. state university Valery Musin, who was also a member of the board of directors.

Otherwise, the composition of the board of directors has not changed, it was headed by the special representative of the President of the Russian Federation for interaction with the GECF Viktor Zubkov, the head of Gazprom Alexei Miller became his deputy in the board of directors, and the board of directors of Gazprombank Andrey Akimov, chairman of the association legal entities"Kazakhstan Association of Oil and Gas and Energy Complex Organizations Kazenergy" Timur Kulibayev, Deputy Chairman of the Management Board of Gazprom Vitaly Markelov, Head of the Management Board of the Company Mikhail Sereda, Rector of the Russian State University of Oil and Gas named after Gubkin Viktor Martynov, Rector of the Russian Academy of National Economy Vladimir Mau, Minister energy of the Russian Federation.

Remuneration to members of the Board of Directors for work in 2015 starts from 20.88 million rubles.

It is this amount that will be received by members of the council who do not perform additional functions in this governing body. But the remuneration for members of the committee of the board of directors will already be 21.457 million rubles, and the head of this committee will receive 22.182 million rubles.

Viktor Zubkov as chairman will receive 26.073 million rubles, Alexey Miller as deputy chairman - 25.207 million rubles. In 2014, they received 25.69 million rubles. and 24.8 million rubles. respectively.

Viktor Zubkov, during a press conference following the results of the shareholders' meeting, touched upon another important topic - relations with minority shareholders of gas distribution companies acquired by Gazprom in 2013. Shares of 72 GRO "Gazprom" acquired from "Rosneftegaz" for 25.861 billion rubles.

“Many minority shareholders have decided that Gazprom must buy their shares without fail,” Zubkov said. “Of course, we understand the motives for this desire, but we believe that the law gives us the right not to do this. Therefore, we do not redeem shares and are not going to redeem them. We will continue to protect our rights and legitimate interests, including in court.”

Minority shareholders believe that Gazprom is required by law to make an offer to them (the total amount is about 8 billion rubles). The matter reached the courts, and the Central Bank entered into the conflict, taking the side of minority shareholders.

Vyacheslav Losev, managing partner of Losev & Partners law firm, believes that the claims of minority shareholders are legitimate. The lawyer recalls that the court has already taken the side of the plaintiffs, but Gazprom still manages to avoid redemption. Getting the company to buy back the shares will be difficult, Losev said.

“The story may drag on for several years, during which Gazprom may find a way to finally evade the offer,” says the lawyer. “However, at the moment, minority shareholders have chances to win.”

Alexei Grivach, Deputy Head of the National Energy Security Fund, points out that the deal to acquire control in the GRO was not originally a market one, as it was carried out by government decision to form direct state control in Gazprom.

“And when discussing the mechanism for exchanging shares of the gas monopoly for shares in the GRO, it was stipulated that Gazprom should not have obligations to minority shareholders of gas distribution organizations,” the expert emphasizes.

The share swap was the last step in the government's consolidation of a controlling stake in Gazprom. Prior to this, the effective share of the state in the capital of the gas holding was actually 49.773%.

"A company with a vision for the future"

Dear shareholders!

For the Annual General Meeting, detailed materials on PJSC Gazprom’s activities for 2017 were presented: the annual report, accounting (financial) statements, the opinion of the Audit Commission and other materials.

The meeting of shareholders is invited to approve:

PJSC Gazprom Annual Report for 2017;
annual accounting (financial) statements of PJSC Gazprom for 2017;
distribution of profits, as well as the amount, terms and form of payment of dividends based on the results of 2017 proposed by the Board of Directors.

Issues on approval of the auditor, payment of remuneration to members of the Board of Directors and members of the Audit Commission of the Company, election of members of the Board of Directors and the Audit Commission are also submitted for the decision of the meeting.

It is proposed to supplement the Regulation on General meeting shareholders of PJSC Gazprom with the rule on the use of additional premises equipped for broadcasting the progress of the meeting, submitting questions and participating in debates.

Draft decisions on these issues are in the bulletins, additional information is in the materials you received.

Dear shareholders!

Gazprom is successfully implementing its leadership strategy among global energy companies:

The Gazprom Group is the world leader in terms of natural gas reserves, production volumes and deliveries to international market. The unified gas supply system operated and developed by Gazprom is unparalleled in terms of scale and technical equipment.

We created the largest electric power holding in Russia, which became the leader in terms of installed capacity and the first in terms of electricity generation among Russian thermal generation companies.

We brought our oil division - the company "" - to the top three oil industry countries and acted as pioneers in the development of the Russian Arctic shelf, ensuring year-round shipment of oil via the Northern Sea Route.

Gazprom makes a significant contribution to the economy Russian Federation. The added value created by Gazprom in 2017 amounted to 3.4 trillion rubles, or almost 4% of Russia's GDP.

Gazprom is one of the key taxpayers in Russia. Payments to budgets various levels in 2017 reached 2.5 trillion rubles. More than 60% is a tax on the extraction of minerals and customs payments. Gazprom provides more than 8% of the income of the consolidated budget of the Russian Federation. Compared to the previous year, payments increased by 568 billion rubles.

Implementing large-scale strategic projects, Gazprom maintains a strong financial position. Gazprom Group's sales revenue is growing steadily. In 2017, it increased by 7% and reached 6 trillion 546 billion rubles.

Gazprom firmly took its place among the top five global oil and gas companies in terms of key financial indicators - net profit and EBITDA. According to the results of 2017, they amount to 12 and 25 billion dollars, respectively.

In 2017, we fully funded our capital expenditures through operating cash flow. Without taking into account changes in the volume of bank deposits, free cash flow Gazprom Group amounted to 24 billion rubles.

Gazprom successfully raises capital at international financial markets. A balanced approach to the choice of sources of financing provides the company with a low cost of attracting debt financing - on average at the level of 5.6%.

The key indicator of the debt burden - the ratio of the ratio of net debt to EBITDA - at the end of 2017 amounted to 1.4. The high level of Gazprom's creditworthiness is confirmed by the estimates of the largest international rating agencies.

The company is passing the peak of the investment program, is implementing whole line large-scale, forward-looking strategic projects. At the same time, taking into account the interests of shareholders, the Board of Directors decided not to reduce the achieved level of dividend payments. At the end of 2017, it is proposed to pay dividends in the amount of 8 rubles 4 kopecks per share. In total, dividends will amount to 190 billion rubles, or 27% of net profit, which refers to shareholders of PJSC"Gazprom". In terms of dividends, Gazprom is the leader among Russian oil and gas companies.

Dear shareholders!

Gazprom's ambitious projects to develop the production, transportation, and processing of hydrocarbons stimulate innovation in oil and gas industry, contribute to the development of Russian science. In 2017, we spent 8.2 billion rubles on R&D and pre-investment studies.

Gazprom occupies a leading position in the Russian fuel and energy complex in terms of import substitution. In 2017, 17 targeted cooperation agreements were signed and updated with manufacturers of import-substituting products. The share of domestic material and technical resources in Gazprom's purchases in 2017 was 99.4%. And for pipes and fittings - 100%. For its facilities, Gazprom purchases products of this category only from Russian manufacturers.

Gazprom makes a significant contribution to the development of the Russian pipe industry. Largely thanks to orders from Gazprom, the capacity of Russian pipe manufacturers has increased since 2000 to the present day from 9 million tons to more than 23 million tons per year. The share of high-tech products in the industry exceeds 60%. Fulfilling the orders of Gazprom, Russian manufacturers pipes have reached the highest level of product quality, which allows them to compete in any segment of the world market.

For 25 years, Gazprom has been successfully increasing the resource base of the Russian gas industry. More than 80 deposits have been discovered since 1993. The increase in Gazprom's gas reserves due to geological exploration during this period amounted to 10.5 trillion cubic meters. m.

In 2017, according to the results of geological exploration, Gazprom's reserves in Russia increased by 852.9 billion cubic meters. m, which is 96% of the all-Russian annual increase. The increase in liquid hydrocarbon reserves amounted to almost 100 million tons.

Today, Gazprom is the world leader in proven hydrocarbon reserves. The reserves of our company are 1.5 times greater than the total reserves of the 5 largest public oil and gas companies in the world - ExxonMobil, PetroChina, BP, Shell and Chevron.

Since 2005, we have consistently kept the natural gas reserves replacement ratio above one. In 2017, it was 1.82. The coefficient of reproduction of liquid hydrocarbon reserves is 1.64.

In 2017, gas production by Gazprom Group enterprises increased by 52 bcm compared to 2016. m or by 12.4% and amounted to 471 billion cubic meters. m of natural gas.

In a short historical period, the efforts of the Gazprom teams created the world's largest gas production complex in Russia. Its capacity exceeds 550 billion cubic meters. m per year. New gas production centers are being formed in the Far East and Eastern Siberia.

In the Arctic, we are developing the Yamal gas production center. Yamal gas is a resource base for expanding the Northern Gas Transport Corridor, the main route for blue fuel supplies to the Russian market and European countries.

In 2017, 5 years have passed since the commissioning of the Bovanenkovskoye field. It is of key importance for the development of the resources of the Yamal Peninsula. We increase production at the field every year. In 2017, the increase was 15.3 bcm. m. Peak productivity reached 264 million cubic meters. m per day. In 2017, the Bovanenkovskoye field produced 17.6% of the Gazprom Group's total production.

The development of the Chayandinskoye field, the main field of the Yakutsk gas production center, is being intensively carried out. The gas from the field will be supplied to the Power of Siberia gas pipeline and exported as early as next year.

On the basis of the Kovyktinskoye field, which belongs to the category of unique gas reserves, Gazprom is establishing the Irkutsk gas production center. The field is being prepared for commercial exploitation.

At the Sakhalin Center, we develop unique methods of subsea mining. And to maintain high levels of production in the Nadym-Pur-Taz region, we are improving the methods of gas production from the Senonian and Achimov deposits, including the use of advanced technologies for multi-stage hydraulic fracturing.

Production of liquid hydrocarbons by the Gazprom Group in 2017 increased by almost 2 million tons compared to 2016 and amounted to 56.9 million tons. Oil production increased to 41 million tons.

In terms of total production of hydrocarbons - gas, gas condensate and oil - Gazprom is the world leader, surpassing PetroChina and ExxonMobil by 2.6 times, Shell by 2.8 times, BP by almost 3 times.

Gazprom is adequately represented in the oil industry by our subsidiary"". The company demonstrates high efficiency, excellent production and financial results, develops innovative methods for the development of hydrocarbons. In 2017, "" strengthened its position in the Russian oil industry and for the first time entered the top three in the production of liquid hydrocarbons. Taking into account joint ventures and operations in 2017, Gazprom Neft's production amounted to 62.4 million tons.

The Gates of the Arctic oil loading terminal ensured year-round shipment of produced oil. And today we are raising the flag on the mast of the new icebreaker, which will guide tankers through arctic ice. This is another step in the development of the Russian icebreaker fleet and ensuring the interests of Russia on the Northern Sea Route.

Gazprom's unique experience finds application abroad as well. The Gazprom Group participates in foreign hydrocarbon production projects. The largest of them are being successfully implemented in Vietnam, Bolivia, and Iraq.

Dear shareholders!

Gazprom accounts for 50% of the total volume of gas processing in Russia. The maximum extraction of valuable components from the extracted raw materials and the production of products with high added value is a priority task of the Gazprom Group in the field of hydrocarbon processing.

We associate the prospect of gas processing growth with the construction of Russia's largest gas processing plant, the Amur Gas Processing Plant, which will become the second largest in the world in terms of capacity.

One of the achievements of Gazprom over the past quarter of a century is the impeccable work unified system gas supply of the country. Its basis is the world's largest gas transmission system, which has become a model for the efficiency and quality of gas infrastructure systems management.

Gazprom is also the owner and operator of gas transmission systems in Armenia, Belarus and Kyrgyzstan.

The development of Gazprom's GTS is carried out in two main directions. In the European part of Russia, we are expanding the Northern Gas Transport Corridor. Its continuation outside Russia is the cross-border gas pipelines Nord Stream and the future Nord Stream 2.

We have built the most modern gas pipelines in the world with an operating pressure of 120 atmospheres - these are Bovanenkovo ​​- Ukhta, Bovanenkovo ​​- Ukhta - 2, and Ukhta - Torzhok. In 2017, compressor capacities were built on the Bovanenkovo ​​- Ukhta - 2 gas pipeline. This year, workshops with a total capacity of 371 MW will be put into operation. In 2018, the construction of the linear part of the Ukhta - Torzhok - 2 gas pipeline will be completed.

In the east of the country, the construction of the Power of Siberia gas pipeline, which has become the largest investment project in the global gas industry, is in full swing.

In parallel with the development of the GTS, Gazprom is increasing the capacity and productivity of underground storage facilities. Compared to the 1993/1994 season, the potential maximum daily productivity of Gazprom's underground storage facilities has increased by 2.6 times. In 2017, a historic record was set for the potential daily capacity of storage facilities at the beginning of the withdrawal period - 805.3 million cubic meters. m.

The operational reserve of storage facilities has been doubled in 25 years. By the 2017/2018 heating season, a record volume of operating gas reserves in UGS facilities was secured - 72.2 billion cubic meters. m. Compared to the 2015/2016 season, gas withdrawals from Russian UGS facilities last winter increased by 1.6 times.

In 2017, Gazprom increased gas supplies to consumers in the Russian Federation to 229.9 billion cubic meters. m, which is 7% higher than in 2016. Gazprom - largest supplier natural gas Russian market. The main gas buyers of the Gazprom Group are the population, utilities and power generating companies.

The Gazprom Group supplies a significant portion of the gas consumed in the countries of the former Soviet Union. In 2017, 1.8 billion cubic meters were sold here. m of gas more than in the previous year. The volume of deliveries amounted to 35 billion cubic meters. m of gas.

The growth in natural gas supplies to the countries of the former Soviet Union in 2017 was the result of increased growth in gas consumption and withdrawals in Belarus and the Baltic countries, as well as the resumption of gas supplies to Azerbaijan.

Gazprom is working hard to ensure that every year tens of thousands of Russian families have the opportunity to use natural gas.

The Russian gasification program is a priority socially significant project of Gazprom. In 2017, the construction of 121 inter-settlement gas pipelines with a total length of 1,848 km was completed. Thanks to this, gas supply to 207 settlements was provided in 32 constituent entities of the Russian Federation. This created conditions for the gasification of almost 52 thousand households and 173 boiler houses with a total consumption of 400 million cubic meters. m of gas per year.

By the end of 2017, the level of gasification in Russia reached 68.1%, including 71.4% in cities, in countryside - 58,7%.

Expanding the use of gas as a motor fuel is one of Gazprom's promising areas of activity. In 2017, the total capacity of the Gazprom Group's gas filling infrastructure amounted to 2 billion cubic meters. m. The volume of sales from our gas filling stations in Russia increased to 525.9 million cubic meters. m of natural gas.

Along with compressed gas, Gazprom introduces liquefied natural gas as a fuel for mainline vehicles. This is the aim of the pilot investment project for the construction of a gas engine infrastructure along the route Moscow - St. Petersburg. This route is part of the transport corridor Europe - Western China.

Dear shareholders!

2017 marked the 10th anniversary of Gazprom's work in the electric power sector. The results of the implementation of the Strategy of the Gazprom Group in the electric power industry were summed up. Over the past 10 years, the country's largest electric power holding of thermal generation has been created. Its installed electric capacity is about 1/6 of the capacity of the Unified Energy System of Russia. By the end of 2017, the holding's capacity amounted to 38.8 GW.

Gazprom has completed over 30 projects for the construction and modernization of generating production facilities with a total capacity of about 8.6 GW.

Over the decade, revenue in the electric power industry more than tripled, EBITDA increased more than 7.5 times, and the debt-to-EBITDA ratio fell from 2.5 to 1.1.

In 2017, Gazprom Energoholding showed record financial and economic results due to the commissioning of new efficient capacities and optimization of operating costs.

The key objectives of Gazprom Energoholding’s strategy for 2018–2027 include increasing internal efficiency and participating in new program modernization.

As part of international development we are building a thermal power plant in Serbia, we are considering the possibility of building gas-fired generation facilities in Vietnam and China.

Dear shareholders!

In 2017, our deliveries of natural gas to European non-CIS countries reached a historic record level of 194.4 billion cubic meters. m. For 25 years, we have almost doubled the supply to this market. The share of Gazprom in European consumption in 2017 also rose to a record level of 34.2%.

In Europe, Russian gas is in increasing demand. Thus, record imports by Germany in 2017 increased by another 7%, by Turkey - by almost 17%. In 2017, Gazprom set a historical record for exports to Austria - 9.1 billion cubic meters. m, which is one and a half times more than in 2016.

During the 2017/2018 heating season, during severe cold weather in Europe, Gazprom set 10 records for daily deliveries to non-CIS countries. In March 2018, an absolute record was set - 713.4 million cubic meters. m of gas per day.

Gas consumption in European countries in 2017, according to preliminary data, amounted to 568.2 billion cubic meters. m, which is 26.5 billion cubic meters. m, or 4.9%, more than in 2016.

The main factors behind the growth in demand were the increase in economic activity in European countries and the emerging last years long-term downward trend in European production.

The resource base of the European gas industry is shrinking. Holland cuts production limits on the largest deposit Groningen. Norwegian authorities restrict offshore drilling in high latitudes. Thus, there are all prerequisites for further growth of gas imports to Europe.

In general, gas imports to the non-CIS markets in 2017 increased by 22.8 billion cubic meters compared to 2016. m. The largest contribution to this growth was made by Gazprom. The increase in Gazprom's supplies over this period amounted to 15.1 billion cubic meters. m.

The development of world LNG production does not lead to radical changes in the European gas balance. LNG supplies from the United States are constrained by the high cost of the full cycle of production and transportation across the ocean. In 2017, only less than two million tons were sent to European buyers, who mostly do not receive gas from Russia. The share of American LNG in the volume of gas consumption in European countries was only half a percent.

The first results of 2018 show that Gazprom's supplies to non-CIS European countries continued to grow. According to preliminary data, in the first half of 2018 we will supply 101.2 billion cubic meters of gas to this market. m of gas. This is by 5.7%, or by 5.5 billion cubic meters. m exceeds the figure for the same period of the record-breaking 2017. If the trend continues, our exports to non-CIS countries in 2018 may reach a new historical record - about 200 billion cubic meters. m.

Nord Stream reliably ensures our supplies to the European market via the most efficient route. The Trans-Baltic route has proved its reliability, safety and efficiency as a highway connecting Europe with Russian gas fields. In November 2017, the Nord Stream gas pipeline from Russia to Germany delivered 200 billion cubic meters of gas from the beginning of the commissioning of this project.

Building on the success of Nord Stream, Gazprom is implementing the Nord Stream 2 project. In 2017, financing agreements were signed with ENGIE, OMV, Shell, Uniper and Wintershall.

The new gas pipeline will be built by the end of 2019. With its commissioning throughput the foreign part of the Northern Gas Transport Corridor will increase to 110 billion cubic meters. m of gas per year.

Complete sets of permits for the construction and operation of the planned gas pipeline have already been received in Germany, Finland and Sweden.

The route along the Northern Gas Corridor from Yamal to Greifswald is almost 2,000 km shorter than along the central corridor through Ukraine. The new gas pipelines of the Northern Corridor differ from the Ukrainian ones in their lower metal intensity, lower energy consumption and a significantly smaller carbon footprint.

February 2018 marks 15 years since the commissioning of the Blue Stream gas pipeline, which accounts for more than 50% of Russian gas exports to the Turkish market. In total, over this period, more than 158 billion cubic meters were transported through the gas pipeline. m of gas. At the end of 2017, a record volume of gas was delivered through the gas pipeline - 15.9 billion cubic meters. m. Gas supplies via Blue Stream have become a powerful catalyst for the development of the Turkish gas market.

Now Gazprom is building a new trans-Black Sea gas pipeline - Turkish Stream. The construction of the first string of the gas pipeline has been completed. For the first time in the world, a pipe with a diameter of 810 mm was laid at a depth of 2200 meters. Turkish Stream will further enhance the reliability of gas supplies to our Turkish and European partners.

The growing demand for gas in Europe requires guarantees of stable supplies. Their reliability is ensured by underground gas storage facilities operated by Gazprom abroad. We strive to ensure that their active capacity is at least 5% of the annual export volume. Over the past 10 years, it has grown almost 3 times.

The geography of Gazprom's participation in foreign UGS projects is constantly expanding both in Europe and beyond. We are currently conducting a feasibility study on the possibility of Gazprom Group's participation in new underground gas storage projects in Austria, Slovakia, China and other countries.

In order to expand the customer base and increase supply flexibility in foreign countries Gazprom is developing its activities in the global liquefied gas market. In 2017, 9 countries received LNG from the Gazprom Group portfolio. Most of the trade operations - 80% - fell on the Asia-Pacific countries. Among them is India, one of the most dynamic Asian gas markets. In 2017, we supplied LNG to a new market for us - the Spanish market, which is still beyond the reach of our trunk gas.

Building on our own LNG production capabilities, together with Shell we are conducting preparatory work for the construction of the third line of the Sakhalin-2 plant with a capacity of 5.4 million tons of LNG per year. In addition, a joint feasibility study is being carried out to determine the main technical solutions for the Baltic LNG project with a capacity of 10 million tons per year.

The most dynamic gas market in the world is China. Demand for gas in China is increasing at an increasing pace. In 2015, its consumption increased by 5%, in 2016 - by 7%, and in 2017 - already by 15%. The share of gas in China's fuel and energy balance will rise from the current 7% to 10% in 2020, and to 15% by 2030. This means that in the next couple of years, China will need up to 360 billion cubic meters. m of gas.

The country's own production does not provide such volumes, and China is increasing imports. Today it covers almost 40% of domestic gas demand. The potential capacity of the Chinese market is so large that in the medium term it may require up to 110 billion cubic meters. m per year of pipeline gas from Russia.

The Power of Siberia gas pipeline will be put into operation in December next year, and Russian gas will begin to flow to China. Within 30 years, we will supply China with more than 1 trillion cubic meters. m of gas. Russian gas will help balance Chinese market, increase its liquidity, prevent periods of shortages like the one that happened in 2017.

In 2017, the foundation was laid for the creation of another route for pipeline gas supplies to China. An agreement was signed between Gazprom and CNPC, according to which additional volumes of gas will come to China from Far East Russia.

Gazprom's partnership with Chinese companies is not limited to gas supplies; issues of cooperation in the field of underground storage and gas power generation in China, gas motor fuel and in the social sphere are being worked out.

Dear shareholders!

We will continue to follow our mission - to reliably and uninterruptedly provide Russian and foreign consumers with energy, and what is especially important - during periods of winter peak consumption. This is our number one priority!

Thank you for your attention.

The second part of the video from the AGMS of Gazprom appeared on the network (more precisely, I thought so at first), the so-called "Final press conference with the participation of the Chairman of the Board of Directors and the Chairman of the Management Board."

Briefly about the content of the conference…

Although it is called as a conference with the participation of the Chairman of the Board of Directors and the Chairman of the Board, but the Chairman of the Board of Directors, an insider of all Russia Zubkov, stayed there for exactly 11 minutes, spoke about the advantages of gas motor fuel and left for an important meeting.

Miller spoke next. The topics were the same: about European exports and Gazprom's latest records. About UGS facilities in Europe, about American LNG. Pro" milestone period"When all the pipes are built - Nord Stream-2, Turkish Stream and the Power of Siberia, and at the same time the contract with Ukraine is completed - it will be the end of 2019. Then Gazprom will apparently achieve complete catharsis.

We discussed the Stockholm Arbitration, Ukraine, investments in the gas distribution system, etc.

But I got the feeling that I, as a shareholder of Gazprom, was simply scammed. Why were there journalists and not shareholders?

Of course, it is “very interesting” to listen to questions from journalists of Stavropolskaya Pravda and Zvezda Altai on topics that have already been discussed in the press a hundred and once, but it would be more interesting for Gazprom shareholders to ask other questions.

About dividends, about events aimed at increasing shareholder value, about the system of remuneration of tops associated with shareholder value. We had a question about the Rostov oblgaz.

Where is the video with answers to shareholders' questions or there were no answers to them?

If anyone does not know how the events took place in the morning at the AGMS of Gazprom, let me remind you. Here are two posts in VK: in the first, the second -.

Gazprom shareholders were simply not allowed to attend the AGM. At all. Some arrived at 8-30 in the morning and stood in line for more than 3 hours. Then, when they were registered, they were not allowed into the hall, referring to the lack of seats in the hall. They offered to put their questions in the ballot box, it was possible to write them on the site.

But wait, where are the answers to the shareholders then?

It looks like this is a tradition in Gazprom. Here is another post for 2011. Nothing has changed in 2018. Tops of Gazprom simply do not want to communicate with their shareholders. Formally, the AGM was held, the reports were read out, the questions of journalists were answered (!), and the shareholders…

“How does a Gazprom shareholder feel today? Humiliated and insulted. The meeting has already started and I can't even get into the hall!

We are deliberately deprived of the right to speak and ask a question. And this is repeated year after year. Do you know why? Because then the statements of minority shareholders will have to be entered into the minutes of the meeting and attached to the materials. The company doesn't need it. She lets only those who do not ask "uncomfortable" questions," shareholder Leonid Pronin complains.

The shareholders' meeting of Gazprom, the world's largest gas company, lasted only 15 minutes. That is how long it took the management of the monopoly to answer the few questions of the shareholders, which were collected in advance and read out by the members of the presidium from a piece of paper. Minority shareholders wishing to ask a question to the chairman of the board of the company, Alexei Miller, or the head of the board of directors, Viktor Zubkov, were not allowed into the meeting room.

What to add here?

Successful investment!

Opened the meeting Executive Director PJSC "Gazprom" Alexey Miller. He spoke about the main performance indicators of the gas giant.

Thus, gas production in Russia amounted to 472 billion cubic meters, and the proceeds of the "national treasure" - 6.5 trillion rubles. The company's profit is 714 billion rubles.

Among the important events of 2017, Alexey Miller noted the record volume of gas exports to non-CIS countries - 194.4 billion cubic meters, the implementation of the Turkish Stream project, preparations for the construction of Nord Stream 2 and the Power of Siberia gas pipeline to China. As part of this project, the construction of one of the largest gas processing enterprises in the world, the Amur GPP (near the city of Blagoveshchensk), has already begun.

The head of Gazprom Dobycha Orenburg, Vladimir Kiyaev, also spoke at the meeting of shareholders. He noted that this year the Orenburg gas chemical complex celebrated its 50th anniversary. Over half a century, more than 1.3 trillion cubic meters of "blue fuel" have been produced and processed.

The most painful issue for the region is about the prospects for Orenburg gas. It is no secret that the gas condensate field near Orenburg has already been depleted by more than 75%. Nevertheless, Vladimir Kiyaev noted, without disclosing details: there are plans to increase the return and build new wells. In particular, exploration work began at the Irek site, whose reserves are estimated at 600 billion cubic meters of gas.

Orenburg residents, employees of the gas company and their families, are most worried about the ongoing restructuring. Recall that the processing assets - a gas plant and a helium plant are being transferred to Gazprom Pererabotka, whose head office is located in Surgut.

Transitional measures will last until autumn. But on own sources, from July 1, employees of some services and divisions will receive "letters of happiness" with a notice of termination employment contracts. At the same time, people are afraid that they will not be offered new jobs in the new structure.