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 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.
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