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GAZPROM

June 7, 2004

Alexander Ryazanov, Deputy Chairman of Gazprom’s Management Committee takes part in parliamentary hearings

The RF State Duma held today the parliamentary hearings on the state and prospect of the Russian gas industry development. The hearings were attended by Alexander Ryazanov, Deputy Chairman of Gazprom’s Management Committee, Natalia Komarova, Chairman of the RF State Duma’s Natural Resources and Nature Management Committee, Valery Yazev, Chairman of the RF State Duma’s Energy, Transportation and Communications Committee, members of Duma’s relevant committees and representatives of independent gas producing businesses.

The participants underscored the need to create a market-based and competitive environment in the gas industry, which should be targeted at establishing equal and predictable financial and economic gas production conditions for Gazprom and independent gas producers, attracting a broader scope of investments into the gas industry, promoting competition on the energy market and implementing a power saving policy.

At the end of the hearings, the parties deliberated on recommendations to be submitted for the RF Government and State Duma’s consideration. In accordance with the adopted recommendations, it was considered indispensable to improve the public governance over the gas industry as well as to draft new laws and amend the existing legislation on natural resources, natural monopolies, power saving and alternative motor fuels. In addition, the recommendations stressed the necessity to introduce into the RF Tax Code a differentiated mineral production tax rate.

Alexander Ryazanov informed the participants of the 2nd phase of Gazprom’s restructuring and emphasized that the reforms being conducted would optimize the subsidiaries’ core business management structure and make subsidiaries’ expenses more transparent.

“The 2nd stage of the Company’s restructuring will simplify the existing gas market regulations. The reforms may draw independent gas producers into making investments into the upgrading and development of the gas transmission facilities,” – Alexander Ryazanov was quoted as saying.

 

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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