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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Gazprom PAO (EDR)    OGZD

GAZPROM PAO (EDR)

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Delayed Quote. Delayed London Stock Exchange - 06/25 11:35:08 am
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Gazprom OAO (EDR) : Alexey Miller: work with RUSNANO yields specific results

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11/28/2013 | 12:24pm EDT

Alexey Miller, Chairman of the Gazprom Management Committee and Anatoly Chubais, Chairman of the RUSNANO Executive Board held a joint meeting at Gazprom's headquarters dedicated to the innovative products development and their introduction at Gazprom's production facilities.

Taking part in the meeting were Members of the Gazprom Management Committee, heads of the Company's relevant units and organizations as well as heads of RUSNANO's structural units.

The meeting participants discussed the progress with cooperation among Gazprom and Russian nanotech companies, including the RUSNANO portfolio companies. In particular, the parties considered the results of using metallized protective coatings with high corrosion resistance, manufactured by Plakart. The pilot operation of coatings at the Astrakhan Gas Processing Plant equipment was positively evaluated by Gazprom. At present, a focus is placed on using Plakart's anticorrosion as well as fireproof and wear-resistant coatings for protecting the process equipment of Gazprom's gas transmission and gas production facilities. The relevant specifications are currently under development at Gazprom VNIIGAZ.

The meeting also considered the matters of introducing at Gazprom the cutting-edge energy saving technologies developed by the RUSNANO portfolio companies. For instance, the application of Optogan's light-emitting diode lamps at Gazprom Transgaz Yugorsk made it possible to reduce power consumption by light equipment to 34 per cent. Moreover, in January 2014 Gazprom Transgaz Yugorsk is planned to see the pilot operation of the Liotech lithium-ion accumulator powered DC systems introduced by the Oldam system integrator.

The meeting participants paid special attention to the joint activities aimed at studying the feasibility for Gazprom to use composite pipes along with their possible application areas. The parties agreed on continuing this work and summing up the results before the year end.

"The efficiency of Gazprom's activities and its competitive ability are largely dependent on the application of innovative technologies. We address this issue with great care and we are the leading Russian company in terms of investments into innovations. For several years together with RUSNANO we have been engaged in the systematic and consistent work. And this work yields specific results. We are on the right track," said Alexey Miller.

Background

In November 2010 Gazprom and RUSNANO signed the Protocol of Joint Actions. The document stipulates wider use of nanotechnologies by gas industry companies.

In September 2011 Gazprom and RUSNANO approved a Program to boost the demand for innovative and, inter alia, nanotech products in the gas industry.

In June 2011 the Gazprom Innovative Development Program until 2020 was approved. The Program is aimed at constant improvement of Gazprom's technology level to retain the position of an engineering leader in the global energy business.

The document contains a set of measures on developing and adopting new technologies, innovative products and services by Gazprom at hydrocarbons productiontransmission and processing facilities, power plants as well as measures to create favorable conditions for the intense innovative development.

The Program stipulates a pro-active approach to cooperation with corporate and independent research institutions as part of the R&D activities as well as with national development institutes and higher educational institutions in joint studies and staff training.

RUSNANO was established in March 2011 through the reorganization of the state-owned Russian Corporation of Nanotechnologies. RUSNANO supports the Government's strategy for developing the nanotechnology industry by co-investing in nanotech projects with excellent economic potential or of public impact. The main areas are as follows: opto- and nano-electronics, mechanical engineering and metal working, solar energy, medicine, biotechnologies, energy saving solutions and nanostructured materials. The Russian Government holds a 100 per cent stake in the company.

The Fund for Infrastructure and Educational Programs, which also emerged after the reorganization of the Russian Corporation of Nanotechnologies, is responsible for creating the nanotechnology infrastructure and implementing educational programs.

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Financials ($)
Sales 2019 125 B
EBIT 2019 23 573 M
Net income 2019 20 311 M
Debt 2019 42 221 M
Yield 2019 6,87%
P/E ratio 2019 3,83
P/E ratio 2020 4,16
EV / Sales 2019 1,04x
EV / Sales 2020 1,02x
Capitalization 87 962 M
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Average target price 7,31 $
Spread / Average Target -0,39%
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