OREANDA-NEWS. March 23, 2010. The Board of Directors approved the work being done by Gazprom to implement the Company’s financial strategy guidelines.
Background

Gazprom is implementing a Comprehensive Plan of Actions on the Company’s financial strategy for 2010. The document provides for the following key areas of Gazprom’s financial strategy:
— streamlining the intra-corporate structures for subsidiary companies management in the aim of improving corporate control, reducing costs and raising their efficiency;
— preparing the proposals on optimization of capital investments in a number of projects;
— optimizing the Gazprom Group procurement system management including introduction of an automated electronic procurement system;
— improving the payment discipline among gas purchasers in the FSU countries and raising the percentage of gas payments collection on the domestic market;
— strengthening the control over borrowings of the Gazprom Group companies;
— ensuring the centralized management of cash flows and intra-Group liquidity;
— optimizing the business processes;
— increasing the effectiveness of Gazprom Group’s power generating companies.