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GAZPROM

March 23, 2010

Board of Directors addresses implementation of Gazpromís financial strategy guidelines

The Board of Directors meeting is underway at the Gazprom headquarters.

The Board of Directors approved the work being done by Gazprom to implement the Companyís financial strategy guidelines.

 

Background:

Gazprom is implementing a Comprehensive Plan of Actions on the Companyís financial strategy for 2010. The document provides for the following key areas of Gazpromís 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 Groupís power generating companies.

 

 

 

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