Gazprom 10 years brochure - Gazprom Marketing and Trading

The Power of 10
Celebrating a decade of
Gazprom Marketing & Trading
Our Ambition isYour Energy
10 facts you might not
know about gm&t
gm&t supplied 27 billion cubic metres
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
We are a multi-commodity supplier
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
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 supply gas and electricity
to sme, commercial and large
industrial markets in the uk
Our turnover grew from £2.6 billion
in 2007 to £6.6 billion in 2008
gm&t became the first Gazprom
retail brand outside Russia
when it entered markets in the
uk and France in 2006
Vitaly Vasiliev
Chief Executive Officer
Joined 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 Mikhalev
Managing Director
Founded 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 HamptonWick.
10 years according to GM&T
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008/09
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
The 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
• OAO Gazprom opens
its first office in the uk
in Richmond, southwest 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
• Gazprom uk Trading
Ltd becomes responsible
Ltd is granted a
for managing Gazprom’s shipping licence for the
10 per cent stake in
nts, a network of gas
the Interconnector, a
pipelines throughout
sub-sea gas pipeline
the uk that supply gas
providing a two-way
to 40 power stations via
link between the uk and
gas terminals situated
continental European
on the coast
energy markets via the
North Sea
• 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
Plenty in reserve
How Gazprom supports GM&T
The company possesses the
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.”
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
The company’s reserves
are currently appraised at
29.85 trillion cubic metres
and valued at around
us$180 billion
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
Gazprom
employs
more than
400,000 people
worldwide
People power
GM&T workforce
April 2009
I was told about GM&T’s ambitions in 2005. It’s great
to see how commitment to a goal can make it happen
Alex Smith, Financial Controller
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
is an exhilarating
and empowering feeling
strides in the pastItdecade
towards achieving
that aim.
to be part of a dynamic and multicultural
Over the last three years, GM&T has
environment
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’m really enjoying working for
GM&T – everyone is so driven
Joanne Tartanus, Receptionist
I was told about GM&T’s ambitions in 2005. It’s great
to see how commitment to a goal can make it happen
Alex Smith, Financial Controller
It is an exhilarating and empowering feeling to be
part of a dynamic and multicultural environment
Fatima Djienova, Head of Business Services
It is thrilling to share thoughts and experiences with
colleagues from nearly 30 different nations
Kevin Selleslags, Originator
I’m really enjoying working for
GM&T – everyone is so driven
Joanne Tartanus, Receptionist
Daniel Gornig
Deputy Commercial Director
Joined 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 Suthar
Settlements Analyst
Joined 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 theTrading 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 Pringle
Head of it
Joined 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 energy
Helping customers worldwide
Service with toppings
Source of success
GM&T Retail not only supplies gas directly
With 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.
to thousands of customers throughout
the uk, Ireland and France – it offers a
product range that is second to none.
Just ask Domino’s Pizza Group. As the
uk and Ireland’s leading pizza delivery
company, 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.”
GM&T oYces
Gazprom Marketing & Trading Limited
Gazprom House
60 Marina Place
Hampton Wick
Kingston upon Thames kt1 4bh
England
t: +44 (0)20 8614 1312
f: +44 (0)20 8614 1313
Gazprom Marketing & Trading
Retail Limited
Bauhaus
5th Floor
27 Quay Street
Manchester m3 3gy
England
t: +44 (0)845 230 0011
f: +44 (0)845 230 0022
Gazprom Marketing & Trading usa, Inc.
Bank of America Building
700 Louisiana Street, Suite 2500
Houston, tx 77002
usa
t: +1 (281)404 4500
f: +1 (281)404 4501
Gazprom Marketing & Trading France sas
68, avenue des Champs-Élysées
75008 Paris
France
t: +33 (0)1 42 99 73 50
f: +33 (0)1 42 99 73 99
Gazprom Marketing & Trading
Germania GmbH
Markgrafenstrasse 23
10117 Berlin
Germany
t: +49 (0)30 20195 562
w: gazprom-mt.com
w: gazpromretail.co.uk
For more information on anything
included in this book or for further copies,
please call gm&t on +44 (0)20 8614 1312
or email [email protected]
All information correct at the time
of going to print, April 2009.
Written, designed and produced by
beetroot. t: +44 (0)20 7749 0180.
Photography for When I was 10 portraits
by Phil Adams.
Printed by Newnorth.
Gazprom Marketing & Trading Limited
Gazprom House
60 Marina Place
Hampton Wick
Kingston upon Thames kt1 4bh
England
t: +44 (0) 20 8614 1312
f: +44 (0) 20 8614 1313
w: gazprom-mt.com