Gazprom, Primorsky krai sign program of gas infrastructure development in region

AK&M 07 October 2020 18:49

Alexey Miller, Chairman of the Management Committee of PJSC Gazprom, and Oleg Kozhemyako, the Governor of Primorsky krai, have signed a program for gas supplies and gas infrastructure development in the region for a new 5-year period (2021-2025), according to the press service of Gazprom.

Under the program, Gazprom will invest RUB 21.14 billion in the program. The company will build 108 km of gas pipelines and five gas distribution stations, 194 km of inter-settlement gas pipelines. The program envisages connection of the Sukhodol sea port, agricultural enterprises located in the Mikhailovsky priority development territory, the Nakhodka fertilizer plant and other facilities to gas supplies.

As of January 1, 2020, the gas infrastructure penetration in Primorsky krai was 0.7%. As a result of the program implementation in 2021-2025, the penetration will increase to 3.9%.

PJSC Gazprom (tax number: 7736050003) is the world's biggest gas company. Its authorized capital is RUB 118.367 billion and consists of 23,673,512,900 common shares with a face value of 5 rubles. The company has several hundred thousand shareholders in Russia and abroad. The Russian Federation owns more than 50% of Gazprom's shares. The Bank of New York Mellon is the depositary of Gazprom's ADR program.

IFRS profit of PJSC Gazprom for the first half of 2020 dropped by almost 95% to RUB 45.46 billion from RUB 878.644 billion a year earlier. Revenue from sales decreased by almost 29% to RUB 2.903 trillion from RUB 4.077 trillion, profit from sales by 75% to RUB 189.985 billion from RUB 780.878 billion. Loss before tax was RUB 16.806 billion against a profit of RUB 1.125 trillion.