Alexey Miller's column

It was an extremely eventful year for Gazprom. If you want me to choose just five highlights, I would certainly start with the development of the resource base. We expanded our capacities at the new gas production center in Yamal, which is of key importance to our country. In 2019, we followed up the development of the Bovanenkovskoye field by starting to develop the Kharasaveyskoye field, which is located farther north and is unique in terms of reserves. A second highlight was the successful operation in the autumn/winter season. Our performance was confident as usual, thanks in large part to underground storage facilities. In 2019, we brought their deliverability to an all-time record of 843.3 million cubic meters per day. As a result, the reliability of our gas supplies in winter reached a new level. Clearly, a third highlight goes to our projects in external markets. We enhanced our export potential and launched not one but two new export corridors – TurkStream and Power of Siberia. This means even more reliable supplies to the West in parallel with the implementation of long-term strategic agreements with China in the East. Russian gas processing projects are the fourth highlight. Their significance for Gazprom has been growing tremendously in recent times. Last year, we passed the halfway point in the construction of the Amur Gas Processing Plant and kicked off the project in Ust-Luga. Both of those facilities will join the ranks of the largest facilities in the world. I would also like to single out the successful project finance deal for the Amur GPP. The EUR 11.4 billion transaction is the largest deal in the history of Gazprom. My fifth and, I suppose, last highlight is our financial performance. Gazprom remains steady in its work. The Company is very durable, as evidenced by our dividends. We are going to pay out RUB 360.8 billion, essentially the record-breaking level of last year, despite the challenging situation that is currently facing the global economy at large and the energy sector in particular.