Annual General Shareholders Meeting of Gazprom – 2017
Materials for shareholders
Foundation for Further Growth Speech by Alexey Miller
2016 saw Gazprom reinforce its leading status in terms of key industry indicators and lay the groundwork for new growth:
- we ramped up our reserves, reversed the downward trend in gas production, and extracted a record amount of oil;
- in the reporting year, we brought onstream a number of essential facilities opening up development prospects for decades to come;
- in the European market, Gazprom raised the bar for supply reliability extremely high, demonstrating that we can provide the required amounts of gas at competitive prices amid growing demand.
In 2016, the Gazprom Group’s revenue from sales increased by RUB 38 billion against the previous year, exceeding RUB 6 trillion.
The profit attributable to Gazprom’s shareholders added 21 per cent, reaching RUB 952 billion.
Over the past 11 years, Gazprom has steadily generated a free cash flow, which was yet again positive in 2016. Our cash flow was RUB 202 billion.