Gazprom: The Soyuz Vostok project has entered the design stage

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AK&M 28 February 2022 15:54

The Soyuz Vostok project has entered the design stage. Gazprom said this in a statement following a meeting between Alexey Miller, Chairman of the Gazprom Management Board, and Saynbuyangiin Amarsaikhan, Deputy Prime Minister of Mongolia.

The parties discussed the progress of the project of construction of the main gas pipeline "Soyuz Vostok" in Mongolia. It will be a continuation of the Russian gas pipeline "Power of Siberia - 2" and will supply up to 50 billion m3 of Russian gas per year to China.

At the meeting, the special purpose company Soyuz Vostok Gas Pipeline LLC and Gazprom Projecting LLC signed an agreement to perform design and survey work within the framework of the construction of the Soyuz Vostok gas pipeline. The document, in particular, provides for the involvement of Mongolian companies for engineering-geodetic, engineering-ecological and archaeological surveys.

In addition, the work plan of the joint working group of the Government of Mongolia and Gazprom for 2022-2024 was signed.

"Work on the Soyuz Vostok gas pipeline project is actively and successfully progressing. A month ago, the results of the feasibility study were approved, and today a design contract was signed. This means that the project has moved into the practical stage," Alexey Miller said, quoted in the message.

Gazprom and the Government of Mongolia signed a Memorandum of Understanding in December 2019.

In January 2022, Gazprom and the Government of Mongolia signed a protocol on the results of the feasibility study (feasibility study) of the construction project of the main gas pipeline "Soyuz Vostok". The feasibility study was prepared by the Soyuz Vostok Gas Pipeline special purpose company.

PJSC Gazprom (TIN 7736050003) is the world's largest gas company. The authorized capital of Gazprom is 118.367 billion rubles. Issued 23673512900 ordinary shares with a par value of 5 rubles. The number of Gazprom shareholders in Russia and abroad is several hundred thousand. Over 50% of the company's shares are under the control of the Russian Federation. The depository of the ADR Gazprom program is The Bank of New York Mellon.

Gazprom's profit under IFRS for 9 months of 2021 amounted to 1.58 trillion rubles against a loss of 202.2 billion rubles a year earlier. The profit attributable to Gazprom shareholders reached 1.55 trillion rubles against a loss of 218.38 billion rubles. Profit from sales increased 4.9 times to 1.59 trillion rubles from 325.15 billion rubles. Profit before tax amounted to 1.94 trillion rubles against a loss of 327.02 billion rubles. EBITDA increased by 137% and amounted to 2.2 trillion rubles.

Net revenue from gas sales increased by 77% to 3.46 trillion rubles. Net revenue from gas sales to Europe and other countries increased by 117% to 2.46 trillion rubles. Net revenue from the sale of gas to the countries of the former Soviet Union increased by 34% to 267.3 billion rubles. Net revenue from gas sales in the Russian Federation increased by 18% to RUB 732.58 billion.