The Power of 10Celebrating a decade of Gazprom Marketing & TradingOur Ambition is Your Energy

10 facts you might not know about gm&t

We work with more than 100 counterparts across the globe

Our net profit grew from £34.3 million in 2007 to £70.1 million in 2008

gm&t supplied 27 billion cubic metres of gas globally in 2008, compared to 16.2 billion cubic metres in 2007

gm&t is active in gas, lng, power, oil and carbon markets

We were established in the uk in early 1999 to optimise gazprom Export’s portfolio in liberalising markets

With oYces in london, manchester, Houston, Paris and Berlin, gm&t employs 250 people from 30 countries gm&t became the first gazprom

retail brand outside Russia when it entered markets in the uk and France in 2006

Our turnover grew from £2.6 billionin 2007 to £6.6 billion in 2008

We supply gas and electricity to smE, commercial and large industrial markets in the uk

We are a multi-commodity supplier

Vitaly VasilievChief Executive OfficerJoined in 2004

Gazprom Marketing & Trading started as the result of a compelling business vision. Today’s company, and the outstanding success it has achieved, has fully realised that vision. We have grown considerably since the beginning, from having a small office with a handful of staff in Richmond to now having offices in Kingston upon Thames, Manchester, Paris, Berlin and Houston.

From our early days as a gas trader, we are now strong globally in commodities such as gas, electricity, oil, FX, carbon and lnG and have a thriving gas and electricity retail business, while building our core trading and portfolio activity year on year. Our scalable growth model has led to substantial improvements in turnover and profit from the very start, with new products, markets and geographies added throughout our journey.

The next decade will bring us great opportunities, as new energy markets open and planned gas pipelines and lnG shipping routes bring us access to new trading regions, such as the usa and asia.

as we celebrate our first decade, we are under no illusions that the road ahead will present significant challenges for us, as commodity prices fluctuate and credit becomes an issue. However, as a global energy business we have the twin advantages of an unrivalled physical position – our parent company is the world’s biggest gas supplier – and an innovative, flexible and entrepreneurial approach to the way we do business.

This unique formula has brought us great results in our first decade. I believe that, whatever the challenges faced by the global economy, our second decade will prove equally prosperous.

Andrey MikhalevManaging DirectorFounded GM&T in 1999

GM&T Managing Director Andrey Mikhalev was the company’s first uk employee when he started the business in May 1999 from a small, serviced office opposite Richmond train station in south-west London.

Having recruited a secretary, Andrey then brought in Alexey Selikhov and Daniel Gornig, bringing the size of the team to four, all of whom sat around one table in a single office.

“We have come a long way since those early days, but I would like to think that we still share the team spirit which brought us our initial success 10 years ago,” says Andrey. “I am also really pleased that my colleagues from those early days – Daniel and Alexey – are still helping to steer the company’s growth and prosperity.”

Andrey is pictured outside GM&T’s second office in Richmond, which accommodated 30 employees, before the move to Hampton Wick.

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008/09The internet site YouTube goes online

Italy win football’s fIfa World Cup

The Queen becomes Britain’s oldest reigning monarch

Credit crunch hits world economy and Barack Obama becomes us President

Euro currency is launched

Vladimir Putin is elected Russian President

september 11 terrorist attacks on New York

BlackBerry smartphone is launched

Concorde makes its last commercial flight

The Olympic Games return to their athens birthplace

• OaO Gazprom opens its first office in the uk in Richmond, south-west London, in May 1999. Gazprom uk Trading Ltd starts with only two members of staff. The move signals Gazprom’s intention to optimise Gazprom Export’s portfolio in liberalised markets

• Gazprom uk Trading Ltd becomes responsible for managing Gazprom’s 10 per cent stake in the Interconnector, a sub-sea gas pipeline providing a two-way link between the uk and continental European energy markets via the North sea

• Gazprom uk Trading Ltd is granted a shipping licence for the NTs, a network of gas pipelines throughout the uk that supply gas to 40 power stations via gas terminals situated on the coast

• Gazprom uk Trading Ltd markets gas on the uk’s NBP, a virtual trading location for the sale and purchase of uk natural gas and the most liquid gas trading point in Europe

• Gazprom uk Trading Ltd becomes a Zeebrugge member. This gives the company access to the Zeebrugge Hub – the natural gas trading point in Belgium – via the company’s share of the Interconnector between Zeebrugge and the Bacton terminal in England

• The uk-based energy trading company Gazprom uk Trading Ltd is renamed as Gazprom Marketing & Trading, creating the GM&T brand name

• GM&T becomes a GTs shipper

• GM&T enters the Dutch TTf market, a key gas trading hub in Europe which offers traders the opportunity to transfer gas already present in the GTs system to another party

• GM&T incorporates subsidiaries in usa and france

• GM&T delivers LNG spot cargo to Chubu Electric Power Co., Inc. in Japan

• GM&T commences uk power trading

• first direct gas sales to end-user markets in france

• first carbon trade• GM&T signs up to trade

at the EGT

• GM&T enters German power market

• Gazprom sources first CER credits from CDM project in Brazil

• GM&T opens office in Houston, usa

• first power trade on french market

• GM&T Retail, Gazprom’s first retail brand outside Russia, is born

• GM&T opens new London office

• GM&T buys into smart metering company

• GM&T Retail reaches 2Bcm of gas sold

• first Russian/Japanese transaction of carbon credits with Marubeni

• GM&T acquires a gas supply licence for Ireland, and an electricity supply licence

10 years according to GM&T

Plenty in reserveHow Gazprom supports GM&T

A vital factor in GM&T’s growth has been the support received from parent company Gazprom Export, and in particular from Chairman Alexander Medvedev. Mr Medvedev is a frequent visitor to GM&T and ‘leads from the front’ in presenting Gazprom to the international media.

“I am very proud of the success achieved by the management and staff of GM&T in reaching this great 10-year milestone,” says Mr Medvedev.

“In particular, GM&T has done an important job in presenting the Gazprom brand to a wider western European market, which is directly linked to our vision of becoming a leading global energy brand.

“We look forward to the next 10 years of growth in these important markets.”

The company possesses the richest natural gas reserves in the world, which account for 17 per cent of the world’s natural gas reserves and more than 60 per cent of reserves in Russia

Gazprom is the world’s largest gas company, concentrating largely on the production and transmission of natural gas and other energy commodities directly from the source to the end-user

For more than 35 years, Gazprom has met around a third of Europe’s gas requirements through its supply

The company’s reserves are currently appraised at 29.85 trillion cubic metres and valued at around us$180 billion

Gazprom employs more than 400,000 people worldwide

It is thrilling to share thoughts and experiences with colleagues from nearly 30 different nations Kevin Selleslags, Originator

I was told about GM&T’s ambitions in 2005. It’s great to see how commitment to a goal can make it happenAlex Smith, Financial Controller

I’m really enjoying working for GM&T – everyone is so drivenJoanne Tartanus, Receptionist

It is an exhilarating and empowering feeling to be part of a dynamic and multicultural environment

People powerGM&T workforce April 2009

Whether we are confirming trades in Kingston, helping counterparts in Houston or expanding our gas portfolio in Paris, the power behind GM&T’s operations is its people.

GM&T’s diverse workforce has been drawn from more than 30 countries and works across five offices and two continents, with everyone sharing a common aim – to help GM&T become the world’s leading energy marketing and trading company. Thanks to the skill and commitment of its employees, the company has made huge strides in the past decade towards achieving that aim.

Over the last three years, GM&T has doubled the size of its workforce to support its expanding energy portfolio. In tribute to our employees’ work, we present to you GM&T’s class of 2009.

It is thrilling to share thoughts and experiences with colleagues from nearly 30 different nations Kevin Selleslags, Originator

I was told about GM&T’s ambitions in 2005. It’s great to see how commitment to a goal can make it happenAlex Smith, Financial Controller

I’m really enjoying working for GM&T – everyone is so drivenJoanne Tartanus, Receptionist

It is an exhilarating and empowering feeling to be part of a dynamic and multicultural environmentFatima Djienova, Head of Business Services

Daniel GornigDeputy Commercial DirectorJoined in 2001

If you want to know just how far GM&T has come in 10 years, just ask Deputy Commercial Director Daniel Gornig. “When I joined there were only four of us working for the company and we shared a room in a serviced office building in Richmond,” he recalls. “It was my first job after university and like most people starting a new job, I was a little overwhelmed at first. I remember Andrey Mikhalev, the Managing Director of GM&T, handing me a pile of Heren industry reports to read and assuring me I would soon understand what the gas business is all about.”

Looking back, Daniel’s fondest memory is securing the nbp shipper’s licence for GM&T. “This was the catalyst for us to trade on the uk market,” he says. “I can’t believe how much we have grown since – we are now a sophisticated marketing and trading company appreciated by our counterparts across north-west Europe.”

Daniel expects the gas portfolio that he has worked so hard on to grow and expand significantly in the years ahead. “In the coming years some major pipeline projects like nord Stream will go online and on the back of these projects, our gas flow from east to west will again significantly increase. This will help us to further optimise GM&T’s pan-European gas portfolio and create additional value for the Gazprom group. If all of GM&T’s businesses become as profitable as gas then the future’s bright.”

When I was 10...I did not really think about what I wanted to be when I grew up. My childhood was very happy and the one thing I always loved to do was play football. I looked up to the stars from the great East German teams of that time

Rheena SutharSettlements AnalystJoined in 2006

It may be a short walk from the reception desk where she started her career to back office where she now works, but Rheena Suthar has come a long way since joining GM&T in 2006. “I took a summer job as a receptionist in our Kingston office straight after university,” she recalls. “I had obtained a degree in Accounting and Finance and made an effort to learn about the business after I joined, so I jumped at the chance to join the Trading Accounts team when it arose.”

As Settlements Analyst, Rheena looks after invoicing and oversees confirmations for trades that GM&T makes. “We have to ensure that all the trades are correct and accurate payments are made. This can involve working with our traders to solve issues which is the part of the job that I enjoy the most.”

Although the number of people working for GM&T has doubled in the past three years, Rheena says the company has retained the buzz it had when she joined. “The company has grown so quickly but it is still a really friendly place to work.”

Rheena is just as positive about the future. “I expect GM&T to soar sky-high and can see myself growing with the company.”

When I was 10...I wanted to be a pop star. I sang in the school choir and really enjoyed singing in a big group with friends. I am still singing so who knows, my dream of becoming a pop star might still come true!

Rob PringleHead of itJoined in 2009

Not many of us find our dream job down the road from where we live, yet that’s what Rob Pringle achieved when he joined GM&t as Head of it in January. “i’ve spent my entire working life in energy and it and always wanted to work for a company that combines both,” says Rob. “i found one on my doorstep in Kingston.”

Rob already feels settled at GM&t. “the company has a hardworking culture but there is also a strong family feel. People are always willing to help each other.”

As the person responsible for building, buying and running the it systems which support GM&t’s operations worldwide, Rob not only needs to know his lANs from his wANs – he needs to know his spot cargoes from his carbon credits, too. “My role is not just about technology,” he explains. “i have to be fluent in the language our businesses use, which is what makes my job really interesting.”

the biggest challenge facing Rob and his team over the next 10 years is ensuring it systems keep pace with the company’s expected growth. “GM&t has incredible potential to grow and given the capability of the people who work here, i am confident we can fulfil that potential.”

When I was 10...I wanted to follow in the footsteps of my parents and become a doctor. I studied medicine for a year but it was not for me – I liked the theory but not the reality! I switched to a degree in Computer Science and Management and here I am

Responsible energyHelping customers worldwide

Service with toppingsGM&T Retail not only supplies gas directlyto thousands of customers throughout the uk, Ireland and France – it offers aproduct range that is second to none. Just ask Domino’s Pizza Group. As the uk and Ireland’s leading pizza deliverycompany, Domino’s Pizza Group knows the importance of a fast and reliable service, which is what GM&T Retail has provided to hundreds of the customer’s stores since 2003.

“We use GM&T Retail’s energy services for all our site works and meter installation needs for all our new and existing stores and we have found them to be capable, accommodating, very efficient and dependable,” says Mandy Ferguson, Store utilities Co-ordinator, Domino’s Pizza Group. “We would recommend GM&T Retail’s energy services to any organisation that has a site works requirement.”

Source of successWith energy users seeking out more efficient ways of managing their environmental responsibilities, demand for carbon credits is booming. To help GM&T Carbon meet that demand, the business is participating in several projects to generate certificates for carbon emissions.

GM&T recently purchased carbon credits from a renewable energy project in Mexico which will reduce emissions by displacing electricity generated by thermal sources. The project introduces grid-connected electricity generation from a renewable energy source, providing a clean and sustainable method of power generation for Latin America and leading the way for the development of renewable energy in the region.

GM&T oYces

Gazprom Marketing & Trading LimitedGazprom House60 Marina PlaceHampton WickKingston upon Thames kt1 4bhEnglandt: +44 (0)20 8614 1312f: +44 (0)20 8614 1313

Gazprom Marketing & Trading Retail LimitedBauhaus5th Floor27 Quay StreetManchester m3 3gyEnglandt: +44 (0)845 230 0011f: +44 (0)845 230 0022

Gazprom Marketing & Trading uSa, Inc.Bank of america Building700 Louisiana Street, Suite 2500Houston, tx 77002uSat: +1 (281)404 4500f: +1 (281)404 4501

Gazprom Marketing & Trading France SaS68, avenue des Champs-Élysées75008 ParisFrancet: +33 (0)1 42 99 73 50f: +33 (0)1 42 99 73 99

Gazprom Marketing & Trading Germania GmbHMarkgrafenstrasse 2310117 Berlin Germanyt: +49 (0)30 20195 562

w: gazprom-mt.comw: gazpromretail.co.uk

For more information on anythingincluded in this book or for further copies, please call GM&T on +44 (0)20 8614 1312or email info.pr@gazprom-mt.com

all information correct at the timeof going to print, april 2009.

Written, designed and produced by beetroot. t: +44 (0)20 7749 0180.Photography for When I was 10 portraitsby Phil adams.Printed by Newnorth.

Gazprom Marketing & Trading LimitedGazprom House60 Marina PlaceHampton WickKingston upon Thames kt1 4bhEnglandt: +44 (0) 20 8614 1312f: +44 (0) 20 8614 1313w: gazprom-mt.com