OREANDA-NEWS. September 3, 2012. The 13-th Annual Festival of Sports "Bicycle World of ITERA" took place at the Olympic Bicycle Race Track in Krylatskoe on August 25. This year's Festival was dedicated to the 20-th Anniversary of the ITERA International Group of Companies (ITERA Group) and has become the largest one in the history of this event with over one thousand people in attendance.

The Festival’s key feature has traditionally been a bicycle race by ITERA staff, the Company’s friends and partners. This year, the Mass Media representatives could also take part in the competition for the first time.

Individual races were organized for children. Children’s Bicycle Race "Children of the World Choose Sports" was held for a prize of the "Sport-Express" newspaper. World Cup and Olympic Games winners, Honored and International Masters of Sports annually compete in the main men’s race of the "Bicycle World of ITERA" Festival. Igor Makarov, ITERA Group President and former member of the USSR National Cycling Team, has been continuously participating in the race.

Within the "Bicycle World of ITERA" Festival, bicycles, exercise bikes and souvenirs were presented to Udelninskiy Orphanage. The Race’s prize fund was also given to orphaned children.

ITERA International Group of Companies (ITERA Group) was established in 1992. It is a vertically integrated holding company which includes dozens of enterprises and companies in CIS, Baltic countries, Western Europe, Asia and the USA. Gas business has been a core business of ITERA since 1994. ITERA Oil and Gas Company, a Group company, has been developing its own production of gas in the Yamalo-Nenets Autonomous District since 1998. It has invested over USD 2 billion into development of the gas production industry. The total of over 250 billion cubic meters of natural gas has been produced in the fields developed with by ITERA. The total of about 600 billion cubic meters of natural gas has been sold. Development, gas processing and power generation are also among strategic businesses of the Group.