OREANDA-NEWS. June 09, 2010. The Board of Directors took notice of the information about the efforts made to arrange management of the assets owned by Gazprom and its subsidiary companies, as well as to develop corporate transaction control systems.

The Management Committee was tasked to continue these efforts.

The Board of Directors addressed the information regarding the Company’s readiness for the annual General Shareholders Meeting of Gazprom and ordered the Management Committee to ensure timely completion of preparatory measures.
Background

Gazprom Group has shaped and is maintaining the optimal asset structure. All the major assets of the Group are directly controlled and managed by Gazprom.

Over the recent years Gazprom has moved to a new stage in managing real estate, which makes up the biggest share in the total value of the Company’s assets. In particular, Gazprom is successfully implementing the program for re-registration of the perpetual land ownership rights. Moreover, underway is the state registration of  Gazprom’s rights to real estate enabling, inter alia, to ensure property protection against legal and other risks, to enhance control over property transactions and to secure efficient real estate management.

Gazprom has taken steps to streamline the management system for long-term financial investments, as well as the corporate management and control system of Gazprom Group with due regard to the growing share of long-term investments in the Gazprom asset structure, deriving, inter alia, from the Company’s entry into the oil, power generation and LNG businesses.