2003
On February 25, Gazprom placed 144A ten-year bonds for the amount of US$ 1.75bln. Gazprom received awards from International Financial Review for the best 2003 bond issue in Emerging Market Bond and EEMEA (Eastern Europe, Middle Eastern and African) Bond nominations.
On April 1, Gazprom signed a Purchase and Sale Agreement for Kaunas Thermal Power Station.
On May 12, Gazprom and KOGAS (Korea Gas Corporation) signed the Agreement of cooperation.
On May 28, the pre investment survey Phase 1 was accomplished within the Central Asia– Center project. The project is aimed at reconstructing and enhancing the existing gas transportation system as well as new gas transportation capacities development in this direction.
In May, preliminary study work with potential partners on the North European gas pipeline project began. The North European gas pipeline project was announced being strategically important and perspective project. At the attendance of Russian president and the UK Prime-Minister the bilateral Memorandum of cooperation on the North European gas pipeline project was singed.
On June 10, Operations of Phase 2 and 3 of the South Pars (Iran) project ended in the frames of international consortium activity to develop the field.
On June 17, Gazprom started delivering gas to Armenia.
On June 19, Gazprom and Bashkortostan signed a five-year Agreement of cooperation.
On June 24, Volgogradskaya gas compressor station was commissioned at the operating gas pipeline.
On July 17, Gazprom and Wintershall AG (Germany) set up a joint venture Achimgaz to develop Achim deposits at the Urengoy field.
On July 21, Gazprom acquired a 20 percent stake in KazRosGaz increasing its stake in KazRosGaz up to 50 percent and enabled Gazprom to strengthen its position on the Middle Asian gas market as well as increase flexibility in the gas source diversification.
On July 22, Gazprom entered into a long-term Agreement to purchase natural gas in Uzbekistan.
On July 22, the parties agreed on 100 per cent shareholding in the capital of an ad-hoc project company West East Pipeline Project Investment B.V., which is being established in the Netherlands for participating in the West-East project.
On July 22, Gazprom received Euromoney award for excellence in bond placement on Russian and international markets.
On July 31, Gazprom singed the Agreement on natural gas supply to Georgia.
On August 6, Gazprom and Ministry of Energy and Mines of Venezuela examined cooperation opportunities of prospecting and gas field development as well as gas infrastructure development, gasification and processing.
On August 18, Gazprom entered into a long-term Agreement on natural gas purchasing from Turkmenistan.
On September 9, Chairman of Gazprom Management Committee had talks with the U.S. Government Representatives and top management of the US energy companies. The talks created favorable conditions for Gazprom to enter American LNG market.
On September 19, Fitch rating agency gave a long-term rating of foreign and national currency liabilities at BB level. BB level rating is one point less than the sovereign Russian rating. The rating forecasts to be stable.
On September 19, Gazprom placed seven-year notes to participate in Euro 1 bln credit. Euro denominated note issue effectuated by corporate companies from countries in transition as well as the first corporate EMTN (Euro Medium Term Note) program in Russia.
On September 24, the Ob field was opened.
On October 4, a new pipeline was commissioned: the Karachaganak field (Kazakhstan) – Orenburg gas processing plant (Russia).
On October 23, Gazprom and the Voronezh Oblast authorities signed the Agreement of cooperation.
On October 31, the Vyngayakhinskoye gas field was commissioned.
On November 14, a hundredth billion of cubic meters of gas was produced at the Zapolyarnoye field.
On November 24, Standard and Poor’s international rating agency increased the Gazprom’s rating up to BB- level.
On November 27, Gazprom approved the Conception to explore the Continental Shelf and the Program to conduct marine prospecting operations for oil and gas until 2030.
On December 16, the 1st billion of cubic meters of gas was supplied via the Blue Stream gas pipeline.
On December 22, the second gas complex treatment unit (UKPG-2C) and the first gas complex treatment unit (UKPG-3C) of the Zapolyarnoye oil and gas condensate field (at full capacity of 32.75 bln cu. m) were commissioned.
On December 24, Gazprom, Rosneft and Surgutneftegaz signed the Agreement of cooperation to set up a consortium. The parties agreed to jointly explore oil and gas fields in Eastern Siberia and the Far East due to the internal market needs and possible export to Chinese and Asia Pacific markets.
On December 25, Gazprom signed a Purchase and Sale Agreement to acquire a stake in Lietuvos Dujos (Lithuania).
On December 25, Gazprom signed the Agreement to supply gas to Azerbaidzhan.
On December 26, the Stavropolskaya compressor station was commissioned at the existing gas pipeline.
In December, Gazprom accomplished a task to stabilize gas production reaching the gas production level of 530 bcm in 2003. Gas production in 2003 was at 540.2 bcm. Gazprom decided to set out a new gas production level of 580-590 bcm which must be reached in 2020.