Alexey Miller's column

On the South Stream project significance

“South Stream is a project of Europe-wide significance and scale. New energy companies and even new states express interest in joining the project. On our part, we are open for such cooperation. It is due to our joint efforts that South Stream will soon turn into a state-of-the-art, reliable and hi-tech gas transmission system.”

On cooperation with Bulgaria as part of the South Stream project

“South Stream is implemented on schedule. Under the last week arrangements an agreement was signed today that will give a fresh impetus to the Bulgarian project. There are no contradictions left anymore between Gazprom and Bulgarian Energy Holding. Much as there are no more barriers for us to set up a joint venture that will assume responsibility for designing, constructing and operating the Bulgarian section of the gas pipeline.

South Stream is definitely a success. We are confident that national feasibility studies for the project will be carried out on the best effort basis and as late as in the first half of 2011 we will be able to take decision on the European route optimization with due consideration for all the existing possibilities.”

On water sports center construction in Irkutsk

“Construction of a modern water sports center will be a wonderful anniversary gift for the city. The new center will not only enable swimming lessons, but water sports competitions including those at the international level as well.

I am convinced that the water sports center will help reinforce the traditions of a healthy lifestyle and is most likely to become a training ground for nurturing new Olympic champions who will bring glory to Irkutsk and entire Russia.”

Alexey Miller and Dmitry Mezentsev during foundation stone laying ceremony for water sports center construction in Irkutsk

Alexey Miller and Dmitry Mezentsev during foundation stone laying ceremony for water sports center construction in Irkutsk

On gasification of Buryatia

“The major objective of the Program [Eastern Gas Program] is gasification of Eastern Siberia and the Far East. Due to the vast area and the scarce population, the Company will apply various approaches such as autonomous gasification using energy alternatives such as liquefied and compressed natural gases, or liquefied petroleum gas.

Gazprom has already selected some top-priority facilities in Buryatia for gasification with liquefied petroleum gas. These are an 8,000-ton filling station planned for construction in Ulan-Ude and nine boiler houses in the settlements of Ivolginsk, Sotnikovo, Tarbagatai, Sharaldai, Mukhorshibir and Dolga.”

Alexey Miller and Vyacheslav Nagovitsyn

Alexey Miller and Vyacheslav Nagovitsyn

On cooperation with Bulgaria within the South Stream project

“Today we have achieved significant progress in discussing all the South Stream-related issues. The agreements have been reached on stepping up the activities, elaborating the FS for the Bulgarian section of the gas pipeline and setting up a joint venture. We are going to establish the JV in November 2010, much earlier than it was planned.”

On Gazprom’s revised Dividend Policy

“The shareholder interests underlie all the decisions taken in Gazprom. The amended dividend policy will make the divided calculation principles more comprehensible. An increase in the maximum possible level of dividend payments from 30 to 35 per cent will allow a shareholder to enhance its participation in Gazprom’s profits.

The revised draft version of the Dividend Policy will improve the ratio between the Company’s investments and the shareholders’ profit. This will instill confidence in the shareholders that may count on a pretty good profit in the future.”

Speech by Alexey Miller at the meeting devoted to the General Scheme for the gas industry development until 2030 under the chairmanship of the Russian Federation Prime Minister Vladimir Putin

I think that one of the main conclusions resulting from the review of the General Scheme for the Russian gas industry development is that the domestic market is becoming a priority for us in the gas industry. Thus, the main emerging competitor for our export markets is represented not by other export markets, but by the domestic market of Russia. In this respect, I would like to dwell on the features of the existing gas market, on the gas prices and the prospects we are expecting and forecasting in the nearest future.