Alexey Miller's column

On efficiency of major financial investments in the oil business

“Based on the 2008 operational results Gazprom Neft has once again demonstrated high performance rates and retained the leading position among all Russian oil companies in terms of operational efficiency. In general, upon transition under Gazprom management, Sibneft’s economic performance and operational efficiency are growing steadily.”

“Japan has obtained a new energy supply source and Gazprom – a fundamentally new competitive market”

“Execution of the Sakhalin II project and the launch of Russian LNG supplies to Japan brings the cooperation of Gazprom and Japanese companies to a qualitatively new level, which, unlike in previous years, goes beyond the major joint businesses, primarily Japanese equipment, machinery and pipes supplies to Russia. Japan has obtained a new energy supply source and Gazprom – a fundamentally new competitive market. The Sakhalin – Khabarovsk – Vladivostok gas pipeline will be the next large-scale project that will create a favorable environment for expanding Russian natural gas deliveries to Asia-Pacific including Japan.”

“Upon construction of the Sakhalin – Khabarovsk – Vladivostok gas pipeline and meeting the demand of domestic consumers, gas and its derivatives may be supplied from around Vladivostok to Asia-Pacific, Japan inclusive. This will enable to considerably advance our cooperation with the regional countries, supply them with extra energy resources and fortify Gazprom’s positions on these new competitive markets.”

Speech by Alexey Miller at the Russian – Japanese Economic Forum

“…well-coordinated work provided for a new source of energy, a new resource base for Asia and the Pacific Rim, including for Japan, which is the major consumer of Sakhalin LNG, as some 65 per cent of the gas is delivered to four major electric power utilities and five gas companies of Japan by long-term contracts for 25 years.”