The gas segment is a
new and rapidly developing business segment for LUKOIL Group. Expansion in the
gas segment is one of our strategic tasks, emphasizing commercialization of gas
reserves to boost Company value.
Sales of natural, associated and stripped dry gas by the Group’s
Russian organizations totalled 13.846 billion cubic meters in 2011, which is 2%
less than in 2010. In particular, 9.780 billion cubic meters of gas were sold to Gazprom
(including nearly 8.3 billion cubic meters of natural gas from the Company’s
Nakhodkinskoye field) and 4.066 billion cubic meters of gas were sold to other
consumers (including deliveries to the Company’s own gas-processing
plants).
LUKOIL reached agreement with Gazprom in the reporting year on
deliveries of 8.35–12.11 billion cubic meters of gas from fields in the
Bolshekhetskaya Depression during 2012–2016 at a price equal to the minimum
stipulated by the Federal Tariff Service for industrial users in the
Yamal-Nenets Autonomous District minus 15%. The agreement also states that
Gazprom will make every effort to accept all of LUKOIL’s gas output from fields
in the Northern Caspian into its gas transport system after LUKOIL begins
production in that region and will deliver equivalent amounts to LUKOIL
enterprises.
Average-weighted price of gas sales in the reporting year rose by
5% in comparison with 2010 to 1,290 rubles per thousand cubic meters (1,159
rubles in sales to Gazprom and 1,703 rubles in sales to endusers). The increase
was due to growth in the share of more efficient sales to end-users and of
prices for end-users.
Gas deliveries in
depth:
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