Alexey Miller's column
Natural gas is firmly establishing itself as the most reliable energy carrier capable of meeting a wide range of global energy challenges. This helps us face the future with confidence and optimism. Gazprom will further maintain its business as market driven. Our underlying principle is that gas should be sold first and only then the infrastructure has to be built and supplies have to be provided. This ensures the necessary stability of our business and security of investments. The results of the last year of 2011 are another proof of this principle. We attained great financial and operating results despite a complicated situation in gas markets.
Based on the 2011 operating results the Gazprom Board of Directors recommends paying out dividends in the amount of RUB 212.4 billion, which is almost RUB 9 per share. The 2011 dividends will break the all-time records and constitute 230 per cent of the last-year level.
“The Agreement between Gazprom and EDF is a culmination of the intensive work between the companies aimed at developing an optimal model of cooperation on power generation. I am confident that joint efforts in this strategically important area will significantly contribute to the strengthening of the energy dialogue between Russia and Europe”.
“Nord Stream has been successfully tested. The testing has proven that the new route of Russian gas supplies to Europe is highly reliable. Similar testing of Nord Stream’s second string is scheduled for the next summer.
By creating new routes we care about our European consumers, it is also a guarantee that their gas demand will be met and the EU countries’ energy security will be reinforced in a sustained manner.”
Following his trip to China, Alexey Miller, Chairman of the Gazprom Management Committee was asked by journalists:
“What is your vision of the cooperation outlook in the gas sector?”
“The strategic partnership with the Chinese party will last for years. Gas consumption in China is expected to grow by more than 2.5 times in the next five years. Our long-term cooperation in the gas industry has a great potential.”