Owner and operator of Russia's Unified Gas Supply System, Gazprom extracts, transports, stores and sells natural gas. The Company's major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, and the generation and marketing of heat and electric power. Gazprom holds the world's largest natural gas reserves. Their share in worldwide and Russian gas reserves makes up 18 and 70 percent, respectively.
Gazprom has a monopoly in supplying gas in the Russian Federation, and the company exports natural gas to Western Europe. They export gas to over 30 countries within and beyond the former Soviet Union. The aforementioned Unified Gas Supply System consists of 161.7 thousand kilometers of gas trunklines and branches; 215 pipeline compressor stations; 6 gas and gas condensate treatment facilities; and 25 underground gas storage facilities.
In addition, Gazprom operates gas and hydropower generating facilities with an installed capacity of 37 gigawatts. They also operate a network of gas and compressed natural gas (CNG) filling stations. Currently, Gazprom actively implements large-scale projects targeting exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects internationally.
In January 2013, Gazprom announced that the Zapolyarnoye field was brought to its full capacity - 130 billion cubic meters of gas a year. It became the most productive field in Russia. In addition, they also announced in January that the Adler CHPS - the most state of-the-art power generating facility in Sochi, Russia - was commissioned.
This week, Gazprom announced that Mr. Yury Spektor was elected as Director General of Gazprom Promgaz. Mr. Spektor graduated from Ufa Oil Institute, majoring in Construction of Gas and Oil Pipelines, Gas and Oil Storages. He is a Doctor of Engineering, Professor.
Gazprom Promgaz is the Company's leading research center. They focus on regional energy policy substantiation, gasification, gas distribution and utilization, minor fields and CBM resources development. Gazprom Promgaz is also the general designer for the Russian Regions Gasification Program.
Furthermore, this week, the Company reported that Gazprom and Greece addressed the potential privatization of DEPA. They reported that the Gazprom delegation paid a visit to the Greek Republic. A working meeting with Antonis Samaras, the Greek Republic Prime Minister, took place as part of the visit. The parties addressed the cooperation in the gas sector and special consideration was given to Gazprom's potential participation in the privatization of Greek DEPA Group. DEPA focuses on wholesale purchases, sales and supplies of natural gas to industrial consumers and households in Greece.
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