Russia in need of competitive gas market with equal opportunities for all suppliers

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The Gazprom Management Committee took note of the information about the Company’s plan to create a target model for the domestic gas market.

It was noted that the long-term sustainability of the gas sector and the reliability of gas supplies were essential to Russia’s economy and energy security.

Gazprom makes a great contribution to achieving those goals by providing uninterrupted gas deliveries across the country, including during peak demand in winter periods. To that end, the Company constantly expands its resource base and maintains the readiness of substantial spare capacities for gas production and transportation. Gazprom makes extensive efforts to shape the gas industry of Russia’s Far East, pursues a program to expand the regional gas infrastructure, and expands the national NGV market.

The regulated gas transmission rates do not cover the costs incurred by Gazprom to develop gas transmission and distribution systems for the benefit of all suppliers and consumers.

The current environment necessitates a new approach toward calculating and setting gas transportation rates, as well as a unified competitive market with equal opportunities for all gas suppliers. Priority should be given to improving regulations and protocols with the aim of facilitating free pricing for Gazprom’s gas, streamlining the rate-setting system for gas transportation services and developing tools for organized gas trading.

The Company will continue to cooperate with the authorities in developing the domestic gas market.

The issue of Gazprom’s plan to create a target model for the domestic gas market will be submitted for consideration by the Company’s Board of Directors.

 



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