Alexey Miller holds conference call marking Oil and Gas Industry Workers Day
Alexey Miller, Chairman of the Gazprom Management Committee, today held in St. Petersburg a conference call marking Oil and Gas Industry Workers Day.
The heads of Gazprom Dobycha Noyabrsk, Gazprom Dobycha Urengoy, Gazprom Transgaz Saint Petersburg, and Gazprom Transgaz Ukhta made operational performance reports at the meeting.
Shorthand record of message delivered by Alexey Miller at conference call marking Oil and Gas Industry Workers Day
Let me wish you a happy Oil and Gas Industry Workers Day.
As usual, we celebrate our professional holiday with industrial accomplishments and new plans for the future.
We have already achieved a lot this year. In the Kaliningrad Region, we put the offshore LNG receiving terminal and the Marshal Vasilevskiy floating unit into operation. This is a vital project for our country. Now, we can supply gas to the region directly, bypassing transit countries. We have brought the region's energy security to a fundamentally new level.
Our main objective is to provide reliable gas supplies to consumers. We are doing that with great confidence, based on the market demand. This year, gas production has grown by nearly 5.5 billion cubic meters.
Gas from Yamal is playing an increasingly major role in the gas balance. The Yamal Peninsula is the centerpiece of the domestic gas industry in the 21st century. We continue to actively develop an extensive gas production center in the region. This year, we started the full-scale development of the Kharasaveyskoye field. We will begin production operations at the field in 2023.
Also this year, an important decision was made with regard to the monetization of gas reserves in the Nadym-Pur-Taz region. We started to build a powerful integrated complex for gas processing and liquefaction near Ust-Luga in northwestern Russia. This will help us create a unique industrial cluster, the only of its kind in the world.
In Russia's Far East, construction of another gigantic gas processing plant – the Amur GPP – is in full swing. The work is nearly 50 per cent complete. Construction of two process trains is well underway, and a third train has entered the construction phase. The GPP is a crucial link in the chain of gas supplies via the Power of Siberia gas pipeline.
We are on the threshold of historic events.
In a mere three months, on December 1, 2019, Russian pipeline gas will for the first time enter the Chinese market.
We have passed an important milestone in the Nord Stream 2 project. More than 75 per cent of the gas pipeline's total length have been built in the Baltic Sea. Nord Stream 2 is in its final quarter.
This year, Gazprom paid to its shareholders the highest amount of dividends in the Company's history, setting a record at RUB 16.61 per share. We are now developing a new dividend policy, as in the future we plan to pay out 50 per cent of the net earnings under the IFRS.
We see that investors appreciate our course of action. The market capitalization of Gazprom is above USD 80 billion, which is 1.5 times higher than six months ago. Today, Gazprom holds the leading position in the Russian stock market.
The production and financial achievements are of course brought about by the people who work to attain them. A decision has been made that, starting from October 1 of the current year, the salaries will be increased by 15 per cent for the workers whose pay is based on the Unified Wage Scale at Gazprom's subsidiaries, organizations and branches.
We have much work to do. The autumn/winter period is coming, which is a very critical and demanding time for us, marked by increased demand and higher loads on the Unified Gas Supply System. Therefore, each of us needs to concentrate and work with maximum effort and attention. I am confident that the goals we have set will be achieved to the highest expectations thanks to the expertise, dedication and responsibility of the entire team of Gazprom.
I would like to once again wish you a happy holiday. I wish good health, happiness and prosperity to you and your relatives. Let the future bring new achievements.
And let us go on with our work.