1996
Starting from 1996 Gazprom shares were offered for trade at the specialized trade floor of the Federal Stock Corporation.
On May 31, 1996, the Annual Shareholders’ Meeting of RAO Gazprom took place. The meeting adopted a new version of the Company Charter and formed a Board of Directors.
In September, the Contract on Siberian gas supplies to Italy was signed. Gazprom export (a wholly owned subsidiary of Gazprom) and SNAM (part of the ENI group) achieved accords on potential LNG deliveries to Italy.
During the same period the biggest European contract on Russian gas supply was signed in Warsaw. Under the contract terms 250 bcm of Russian fuel would be delivered to Poland within 25 years.
In October, Gazprom successfully distributed 1.15 per cent of its shares in the form of American Depositary Receipt (ADR) on stock exchanges of USA and Europe. The foreign investors demand was five times higher than supply.
In November, the first sections of the Yamal-Europe gas pipeline were put into operation with the total length of 117.2 km including the underwater crossing of the Oder. This made possible to export 600 mcm of Russian natural gas annually to Germany. After completion of the entire Yamal-Europe gas pipeline system the annual volume of gas supplies would reach 67 bcm.
In December, Gazprom established a subsidiary named Mezhregiongaz responsible for gas export in Russia. The Zapadno-Tarkosalinskoye gas field was put on stream in Western Siberia.