Page 107 - RusRPTJan22

Gazprom continues to purchase large-diameter pipes under the contract concluded in 2020 at fixed prices.
In 2022, RUB 30bn (USD 0.4bn) of perpetual bonds are to be placed to finance the gasification programme.
Gazprom Neft’s CEO Alexander Dyukov made several comments to the media on december 18. The key highlights are as follows.
● The company’s 2021 net income will be at a record level.
● The long-term budgeted oil price is USD 50/bbl, but the oil price
in 2022 is expected to be higher than that.
● The company is preparing a pilot CCUS project for 1mnt/a in the
Orenburg region, with RUB 30bn (USD 0.4bn) of investment.
● Gazprom Neft is prepared to participate in gas chemical projects
in the Yamal Peninsula, but only in partnership with other
companies, e.g. Rusgasdobycha.
● Gazprom Neft did not use its pre-emptive right for 50% of
Tomskneft (JV of GPN, formerly, Rosneft) sold by Rosneft to
NNK, as the terms were not attractive for it.
● In 2022, liquids production by GPN is expected to grow 7%, with
overall hydrocarbon production increasing up to 10%, according to the company. These projections are made based on the known OPEC+ terms.
Repsol is to sell its assets in Russia to Gazprom Neft, Kommersant reports. The assets are stakes in Repsol’s joint ventures with Gazprom Neft (68% in Eurotek-Yugra and 50.01% in ASB Geo). The deal might be closed by YE21. The valuation is not known, but the paper’s sources mention that the assets might be acquired for a ‘giveaway price’. Repsol and Gazprom Neft did not comment on the potential transaction.
Gazprom’s top management held a meeting for analysts and investors on its 2022 budget. The key points are as follows.
The 2022 budget uses an average RUB$of 72.10 and a Urals price of 62.20.
It accounts for a 7.5% indexation in salaries next year. The budget was made under the assumption of 227bcm of total exports and domestic deliveries at 212bcm. A realised export price (all routes) of $296/kcm is budgeted.
Gazprom’s key projects for 2022 include developing Kovykta and Chayanda, the upstream at the Yamal, Kirinskoye and South-Kirinskoye fields, and undertaking projects to improve its ability to meet peak gas demand.
107 RUSSIA Country Report January 2022 www.intellinews.com