Company | Results 2011 | MD&A | Social Responsibility | Corporate Governance | Shareholder Information | Appendix |
Large transactions & related-party transactions |
In 2011, JSC Gazprom Neft was not party to any transactions that could qualify as large transactions under effective Russian law.
¹ |
Name of counterparty |
Object and main terms of the transaction |
Related party in the transaction |
Minutes No. and date |
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1 |
JSC Gazprom Neft (guarantor) GPB (JSC) (lender) CJSC Gazprom Neft Orenburg (borrower) |
Supplementary Agreement No.1 to Guarantee Contract No. 273/10-V-P of December 24, 2010, between JSC Gazprom Neft and GPB (JSC), by which: — paragraph c) of clause 1.2 of the Contract is restated as follows: ‘c) The loan shall be provided in instalments (‘tranches’), each to be repaid at the latest on June 29, 2012. The last Tranche can be provided at the latest on November 30, 2010. The schedule for repayment of loan principle shall be as follows:
|
1.Board Directors of JSC Gazprom Neft, who are also Directors of GPB (JSC): A.B. Miller, A.V. Kruglov, K.G. Seleznev; 2. JSC Gazprom as the holder of more than 20% of stock issued by GPB (JSC), which is a party in the transaction, because its affiliates (A.B. Miller, A.V. Kruglov, K.G. Seleznev, M.L. Sereda, Å.À. Vasilyevà) simultaneously hold positions on the Board of GPB (JSC). |
Minutes-0102/04, Meeting date March 28, 2011 |
2 |
JSC Gazprom Neft (advertiser); CJSC Soccer Club Zenit (diffuser of advertising) |
Advertising services contract between JSC Gazprom Neft and CJSC Soccer Club Zenit.
|
1. The JSC Gazprom shareholder, JSC Gazprom, since its affiliates GPB (JSC) and LLC Gazprom Transgaz St. Petersburg hold more than 20% in CJSC FC Zenit ; 2. Board Director and Chief Executive Officer of JSC Gazprom Neft, A.V. Dyukov, who is also Board Director and President of CJSC FC Zenit; 3. Board Director of JSC Gazprom Neft K.G. Seleznev, who is also Board Director of CJSC FC Zenit |
Minutes-0102/08 Meeting date May 10, 2011 |
3 |
Naftna Industrija Srbije a.d. (NIS) (borrower) JSC Gazprom Neft (lender) |
Special-purpose loan from JSC Gazprom Neft to Naftna Industrija Srbije a.d. of up to ˆ256,200,000 (Two hundred and fifty-six million two hundred thousand euros). Loan purpose: program financing to retrofit and upgrade the Borrower’s production facilities under the contract for purchase of the Borrower’s stock, dated 24.12.2008. Repayment during 14 years from provision of the first loan (May 15, 2009). Repayment of loan principal in equal quarterly payments during the repayment period. Interest rate for each loan: EUR LIBOR 12 months+ 2% per annum. |
1. The JSC Gazprom Neft shareholder, JSC Gazprom, since its affiliate NIS Co. is a party to the transaction, and also because its affiliate JSC Gazprom Neft holds more than 20% in NIS, which is a party to the transaction; 2.Executive Officers of JSC Gazprom Neft (Ê.À. Kravchenko, À.Ì. Cherner, I.K. Antonov, V.V. Yakovlev and V.V. Barishnikov), who are also Board Directors of NIS. |
Minutes-0102/08 Meeting date May 10, 2011 |
4 |
JSC Gazprom Neft (lender) Sibir Energy Ltd. (borrower) |
Loan contract signed between JSC Gazprom Neft and Sibir Energy Ltd. (GPN 11/12100/0236, dated February 14, 2011). Loan principal not exceeding 10,000,000,000 rubles. Loan currency is Russian rubles. Provision in full or by instalments. Repayment by December 31, 2013 inclusive. Interest rate not exceeding 5% per annum. |
1. JSC Gazprom, because its affiliate JSC Gazprom Neft holds more than 20% in Sibir Energy Ltd; 2.member of the Management Board of JSC Gazprom Neft V.V. Yakovlev, who is simultaneously Chairman of the Board of Sibir Energy Ltd |
Minutes-0102/08 Meeting date May 10, 2011 |
5 |
JSC Gazprom Neft (guarantor); Bank GPB (JSC); JSC Moscow Refinery (principal) |
Provision by JSC Gazprom Neft of a guarantee for the obligations of JSC Moscow Refinery, to secure performance by JSC Moscow Refinery before GPB (JSC) for amounts repayable to GPB (JSC) in respect of letters of credit opened by GPB (JSC) to corporate persons non-resident in Russia (Beneficiaries) and/ or corporate persons resident in Russia (Payees) under a contract signed between JSC Moscow Refinery, and the Beneficiary or Payee to deliver goods and/or provide services and/or perform works, to be settled with a letter of credit, payment by JSC Moscow Refinery of all fees and costs of GPB (JSC), and also penalties on the following main terms:
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1. ×Board Directors of JSC Gazprom Neft, who are also Directors of GPB (JSC): A.B. Miller, A.V. Kruglov, K.G. Seleznev; 2. JSC Gazprom as the holder of more than 20% of the shares of GPB (JSC), because its affiliates (A.B. Miller, A.V. Kruglov, K.G. Seleznev, M.L. Sereda, Å.À. Vasilyevà) hold positions on the Board of GPB (JSC); 3. member of the Management Board of JSC Gazprom Neft À.Ì. Cherner, who is Chairman of the Board of JSC Moscow Refinery, whic is the beneficiary in the approved transaction |
Minutes-0102/08 Meeting date May 10, 2011 |
6 |
JSC Gazprom Neft (guarantor); Bank GPB (JSC); LLC TZK North-West (Principal) |
JSC Gazprom Neft provides a guarantee to GPB (JSC), which secures performance of the obligation of LLC TZK North-West to GPB (JSC) for amounts repayable to GPB (JSC) under an issued bank guarantee, and the obligation to pay fees and costs of GPB (JSC) to JSC Pulkovo Airport to secure discharge of an obligation to make investments under a sales contract between LLC TZK North-West and JSC Pulkovo Airport, on the following main terms: Liability of the guarantor is limited to 80,000,000 rubles; Payment currency is Russian rubles; The guarantee is effective until July 31, 2011 inclusive |
1.Board Directors of JSC Gazprom Neft, who are also Directors of GPB (JSC): A.B. Miller, A.V. Kruglov, K.G. Seleznev; 2. JSC Gazprom as the holder of more than 20% of shares in GPB (JSC), since its affiliates (A.B. Miller, A.V. Kruglov, K.G. Seleznev, M.L. Sereda, Å.À. Vasilyevà) simultaneously hold positions on the Board of GPB (JSC). |
Minutes-0102/08 Meeting date May 10, 2011 |
7 |
JSC Gazprom Neft (Customer) JSC Gazprom (Contractor) |
A service contract for gas transportation between JSC Gazprom Neft and JSC Gazprom (‘the Contract’) on the following main terms: The Contractor provides services to organise gas transportation as and how regulated in the Contract (attachment); Contract price not exceeding 3,500,000,000 rubles; Services provided between January 1, 2011, and December 31, 2011, inclusively. |
1. JSC Gazprom, because it is a party to the transaction; 2. Chairman of the Board of Directors of JSC Gazprom Neft A.B. Miller, who is also Chairman of the Management Committee and Deputy Chairman of the Board of Directors of JSC Gazprom; 3. Board Directors of JSC Gazprom Neft, who also serve on the Management Committee of JSC Gazprom: V.A. Golubev, K.G. Seleznev, N.N. Dubik, A.V. Kruglov, O.P. Pavlo va |
Minutes-0102/09 Meeting date |
8 |
JSC Gazprom Neft (Customer); NIS (Contractor). |
A contract with NIS on works/services to install a roof-top advertising structure for JSC Gazprom Neft (‘the contract’) on the following main terms:
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1. The JSC Gazprom shareholder, JSC Gazprom, because its affiliate NIS is a party to the transaction, and its affiliate JSC Gazprom Neft holds more than 20% in NIS, which is a party to the transaction; 2. Executive Officers of JSC Gazprom Neft (Ê.À. Kravchenko, À.Ì. Cherner, I.K. Antonov, V.V. Yakovlev and V.V. Barishnikov), who are also Board Directors in NIS |
Minutes-0102/09 Meeting date |
9 |
JSC Gazprom Neft (Customer) JSC Moscow Refinery (Carrier) |
A contract to transport liquid sulphur between JSC Gazprom Neft and JSC Moscow Refinery (‘the contract’) on the following main terms:
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Member of the Management Board of JSC Gazprom Neft À.Ì. Cherner, is also a Board Director of JSC Moscow Refinery |
Minutes-0102/11 Meeting date June 8, 2011 |
10 |
JSC Gazprom Neft; Salym Petroleum Development N.V. |
A contract on joint work by JSC Gazprom Neft and Salym Petroleum Development N.V. (‘the contract’) on the following main terms:
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The member of the Management Board of JSC Gazprom Neft B.S. Zilbermints is also a member of the Supervisory Panel of Salym Petroleum Development N.V. |
Minutes-0102/11 Meeting date June 8, 2011 |
11 |
JSC Gazprom Neft (Agent) JSC Moscow Refinery (Principal) |
Agency contract between JSC Gazprom Neft and JSC Moscow Refinery (‘the Contract’), on the following main terms:
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The member of the Management Board of JSC Gazprom Neft, À.Ì. Cherner, is also a Board Director of JSC Moscow Refinery |
Minutes-0102/11 Meeting date June 8, 2011 |
12 |
JSC Gazprom Neft (Agent); JSC Moscow Refinery (Principal) |
Agency contract between JSC Gazprom Neft and JSC Moscow Refinery (‘the Contract’), on the following main terms:
|
The member of the Management Board of JSC Gazprom Neft À.Ì. Cherner, is also a Board Director of JSC Moscow Refinery |
Minutes-0102/11 Meeting date June 8, 2011 |
13 |
Vneshekonombank |
A transaction between JSC Gazprom Neft and State Corporation Bank for Development and Foreign Trade (Vneshekonombank), for a placement-sale of documentary non-convertible interest-bearing bearer’s bonds issued by JSC Gazprom Neft (series 08, national registration ID 4-08-00146-A, date of government registration 10.08.2010) totalling 400,000 (four hundred thousand) bonds with par value of 1,000 (one thousand) rubles each, on the terms stated in the decision to issue the bonds and in the bond prospectus, which was approved by resolution of the Board of Directors of JSC Gazprom Neft on June 18, 2010, Minutes No. 0102/18. |
The shareholder of JSC Gazprom Neft, JSC Gazprom, due to the status of its following affiliates: — Board Director Elvira S. Nabiullina is a Member of the Supervisory Council at the State Corporation Bank for Development and Foreign Trade (Vneshekonombank), which is a party to the transaction; — Chairman of the Board of Directors Viktor A. Zubkov is a Member of the Supervisory Council in State Corporation Bank for Development and Foreign Trade State Corporation (Vneshekonombank), which is a party to the transaction |
Minutes-0102/14 Meeting date July 11, 2011 |
14 |
Sberbank of Russia |
Transactions between JSC Gazprom Neft and Open Joint-Stock Company Sberbank of Russia, as follows: 1) on placement-sale of documentary non‑convertible interest-bearing bearer’s bonds issued by JSC Gazprom Neft (series 08 (national registration ID 4-08-00146-A, date of government registration August 10, 2010), totalling 3,500,000 (three million five hundred thousand) bonds with par value of 1,000 (one thousand) rubles each, on the terms stated in the decision to issue bonds and in the bond prospectus, approved by resolution of the Board of Directors of JSC Gazprom Neft on June 18, 2010, Minutes No. 0102/18; 2) on placement-sale of documentary non-convertible interest-bearing bearer’s bonds issued by JSC Gazprom Neft (series 09 (national registration ID 4-09- 3) on placement-sale of documentary non-convertible interest-bearing bearer’s bonds issued by JSC Gazprom Neft, (series 10, national registration ID 4-10- |
The shareholder of JSC Gazprom Neft, JSC Gazprom, since its affiliate Elvira S. Nabiullina is a Member of the Supervisory Council of Open Joint-Stock Company Sberbank of Russia |
Minutes-0102/14 Meeting date July 11, 2011 |
15 |
CJSC Soccer Club Zenit |
Supplementary Agreement No.1 to the Contract between JSC Gazprom Neft and CJSC Soccer Club Zenit No. GPN-11/09000/00225/Ð of 01.01.2011 (‘he Contract’), under which: Clause 4.1 of the Contract shall be restated as follows: “Cost of advertising services provided under Contract from 01.01.2011 to 31.12.2011, amounts to 450,205,084 (four hundred and fifty million two hundred and five thousand and eighty-four) rubles and 75 kopeks, plus VAT (18%) of 81,036,915 (eighty-one million thirty-six thousand nine hundred and fifteen) rubles 25 kopeks. Total contract price is thus 531,242,000 (five hundred and thirty-one million two hundred and forty-two thousand) rubles.” |
1. The shareholder of JSC Gazprom Neft, JSC Gazprom, since its affiliates (GPB (JSC), LLC Gazprom Transgaz Saint Petersburg) hold more than 20% in CJSC FC Zenit; 2. The Board Director and CEO of JSC Gazprom Neft A.V. Dyukov, who is the Board Directors and President of CJSC FC Zenit; 3. The Board Director of JSC Gazprom Neft K.G. Seleznev who is a member of the Board of Directors of CJSC FC Zenit. |
Minutes-0102/15 Meeting date July 13, 2011 |
16 |
JSC Gazprom Neft (Advertiser); CJSC SKA Ice Hockey Club (Advertising agent) |
An advertising services contract between JSC Gazprom Neft and CJSC SKA Ice Hockey Club (‘the contract’) on the following main terms:
|
Board Director, A.V. Dyukov, CEO of JSC Gazprom Neft, also a Board Director in CJSC SKA Ice Hockey Club |
Minutes-0102/15 Meeting date July 13, 2011 |
17 |
JSC Gazprom Neft (Lender); LLC Gazprom Neft-Invest (Borrower) |
JSC Gazprom Neft (Creditor) issues an interest-free loan to LLC Gazprom Neft-Invest (Borrower) amounting to 7,000,000,000 (Seven billion) rubles, repayable by January 31, 2012, to enable LLC Gazprom Neft-Invest to purchase 100% of stock issued by Tzar Petrol Investments Limited. |
The shareholder of JSC Gazprom Neft, JSC Gazprom, because its affiliate LLC Gazprom Neft-Invest is a party to the transaction. |
Minutes-0102/23 Meeting date October 17, 2011 |
18 |
JSC Gazprom Neft (Supplier), JSC Moscow Refinery (Refiner) |
A petroleum refining contract between JSC Gazprom Neft and JSC Moscow Refinery (‘the Contract’) on the following main terms: Object of the contract: crude oil refining Refining volume: not to exceed 8 million tons; Cost of refining per 1 ton of oil: 1,151 rubles (with VAT); Payment currency: Russian rubles; Service period: until June 30, 2012. |
The member of the Management Board of JSC Gazprom Neft À.Ì. Cherner, is a Board Director of JSC Moscow Refinery |
Minutes-0102/28 Meeting date November 3, 2011 |