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Russia: Gazprom calls for 40 percent increase in domestic gas prices in 2003


CEP20021120000250 Moscow Interfax in English 1547 GMT 20 Nov 02

[FBIS Transcribed Text]


  ÿIF2757 3 NWS 115 [AE] ID#:0000000004 (C)INTERFAX 2002. RUSSIA-GAZPROM-RATES-INVESTMENTS . RUSSIA-GAZPROM-RATES-INVESTMENTS Gazprom wants domestic prices to go up 40% in 2003
  YAMBURG. Nov 20 (Interfax) - Increasing domestic gas prices in 2003 by 20% as suggested by the Russian Economic Development Ministry rather than by 40% as suggested by Gazprom will entail a sharp drop in the country's gas output, deputy chairman of Gazprom's board of governors Alexander Ryazanov told a meeting in Yamburg of the Federation Council's Natural Monopolies Committee on Wednesday.
  Ryazanov quoted experts as saying that Russia's annual gas output will drop from 520 billion cubic meters to 490 cubic meters in two years unless prices increase by the larger amount.
  "We want investments rather that a quick buck. Gazprom has to invest 188 billion rubles in the gas industry in 2003," he said.
[Description of Source: Moscow Interfax in English -- non-government information agency known for its aggressive reporting, extensive economic coverage, and good coverage of Russia's regions]

THIS REPORT MAY CONTAIN COPYRIGHTED MATERIAL. COPYING AND DISSEMINATION IS PROHIBITED WITHOUT PERMISSION OF THE COPYRIGHT OWNERS.



Russia: Gazprom calls for 40 percent increase in domestic gas prices in 2003


CEP20021120000250 Moscow Interfax in English 1547 GMT 20 Nov 02

[FBIS Transcribed Text]


  ÿIF2757 3 NWS 115 [AE] ID#:0000000004 (C)INTERFAX 2002. RUSSIA-GAZPROM-RATES-INVESTMENTS . RUSSIA-GAZPROM-RATES-INVESTMENTS Gazprom wants domestic prices to go up 40% in 2003
  YAMBURG. Nov 20 (Interfax) - Increasing domestic gas prices in 2003 by 20% as suggested by the Russian Economic Development Ministry rather than by 40% as suggested by Gazprom will entail a sharp drop in the country's gas output, deputy chairman of Gazprom's board of governors Alexander Ryazanov told a meeting in Yamburg of the Federation Council's Natural Monopolies Committee on Wednesday.
  Ryazanov quoted experts as saying that Russia's annual gas output will drop from 520 billion cubic meters to 490 cubic meters in two years unless prices increase by the larger amount.
  "We want investments rather that a quick buck. Gazprom has to invest 188 billion rubles in the gas industry in 2003," he said.
[Description of Source: Moscow Interfax in English -- non-government information agency known for its aggressive reporting, extensive economic coverage, and good coverage of Russia's regions]

THIS REPORT MAY CONTAIN COPYRIGHTED MATERIAL. COPYING AND DISSEMINATION IS PROHIBITED WITHOUT PERMISSION OF THE COPYRIGHT OWNERS.


Unclassified

Document ID: CEP20021114000388


Entry Date: 11/14/2002
Version Number: 01


Gazprom Deputy CEO Ryazanov on Plans to Develop Electricity Enterprises


CEP20021114000388 Moscow Nezavisimaya Gazeta in Russian 14 Nov 02 P3

[Article by Varvara Aglamishyan: "Gazprom Wants to Become an Electricity Holding Company"]

[FBIS Translated Text]
The gas monopoly intends to develop its own electricity enterprises.

In the future Gazprom should become a gas and electricity holding company. Yesterday the deputy CEO of the company, Aleksandr Ryazanov stated that the gas monopoly is thinking now about founding its own electricity enterprises. So the building of gas and energy structures could become an affair of the next five to seven years.

The intention of the monopoly can be largely explained by the fact that in the next few years regular increases in the price of electricity are expected and in this situation "the burning of its own gas without the participation of RAO YeES [The Russian Joint Stock Company United Energy Systems] could save them quite a bit of money". For right now the electricity holding company gets 140 billion cubic meters of gas annually at a price of 20 dollars per thousand cubic meters. According to the calculations of the gas company people, only 20-25% of the expenses of RAO YeES are needed for the production of electricity. 70% are eaten up by the network, which in addition, is in bad condition and is riddled with subsidies, of which Gazprom has had enough. The gas company people do not want to be dependent on such expenses.

However, that which is a strategic perspective for Gazprom is a vital necessity right now for its petrochemical "affiliate" SIBUR. That company announced its intention to obtain a $30 million credit for the development of its electricity output. In the words of Ryazanov, head of the board of directors of the Gazprom petrochemical company, SIBUR plans to build its own enterprises, either as factory stations or on parity basis with the petroleum companies. The acquisition of already existing RAO YeES assets is not planned, except maybe in exceptional cases, such as the TETs [Thermo-Electric Station] located near the Tobolsk NKhK [Petrochemical Complex].

Tentatively an investment of around $300 million is planned for the development of their own electric generation, bearing in mind that the entire SIBUR investment for the period up to 2010, should not exceed 500 million dollars. In the words of Dmitriy Mazepin, president of SIBUR, such attention to electricity projects can be explained by the fact that right now in the cost of production of the company, 40-60% of the expense comes from the payment for electroenergy. Because the future of YeES and its restructuring are quite unclear and to bank on something for years ahead is impossible, SIBUR is not running a risk and is thinking of creating new production.

However it is not all that simple. Plans to make new output in fact signify an attempt to weaken the meaning of Tyumenenergo in particular and other YeES enterprises as a whole in the activity of SIBUR.

We recall that at one time the activity of Tyumenenergo, which ceased supplying electricity to enterprises separating from SIBUR, which indirectly provided for the return of property back into the hands of Gazprom. The shutdown of gas refining plants ("taken away" by the former petrochemical leadership of SIBUR-Tyumen, which was not affiliated with SIBUR) could not have happened at a better time for the gas monopoly. Of course the General Director of Tyumenenergo, Artem Bikov, was not acting out of special love for Gazprom, rather only to collect debts owed for electricity. But as Nezavisimaya Gazeta sources claim, if there had not been a direct order from the Kremlin, then Gazprom would never have expected the yielding of such a valuable debt to it again, which in the end provided for the return of assets to it. Taking into consideration this experience, SIBUR is taking care of its independence now.

Inside Tyumenenergo, they are reacting calmly to the statement of the SIBUR leadership. "These statements are louder than the actions that follow from it", noted the head of the energy company, Artem Bikov. In his opinion, the development of its own electricity generation is not a first priority problem for SIBUR.

As far as the present financial position of SIBUR is concerned, recently the board of directors of the company examined the results of the operation of the petrochemical company in the first 9 months of this year. The loss in this period came to 4.2 billion rubles, but in spite of this now the company has almost reached the level of production it had before the loss and return of its assets. The indebtedness of SIBUR and its affiliates is 49 billion rubles, 27 billion of which are owed to Gazprom (including fines and penalties), as well as 350 million dollars owed to the banks.

[Description of Source: Moscow Nezavisimaya Gazeta in Russian -- Daily Moscow newspaper aimed at an elite audience and controlled by Boris Berezovskiy.]



THIS REPORT MAY CONTAIN COPYRIGHTED MATERIAL. COPYING AND DISSEMINATION IS PROHIBITED WITHOUT PERMISSION OF THE COPYRIGHT OWNERS.



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