Gazprom set up a Tender Committee
Release
For optimizing its expenditures, Gazprom set up a Tender Committee.
The newly established Tender Committee is another phase in Gazprom’s policy aimed at improving the contest-based procurement system as well as at enhancing the effectiveness of the Company’s capital investments.
23 Gazprom Group’s heads entered the Committee.
Gazprom’s Management Committee Deputy Chairman, Alexander Ananenkov, will be in charge of controlling the Committee’s performance.
Background
Under Gazprom’s 2003 Investment Program, the Company’s capital investments are expected to reach RR 180 billion. Gazprom will channel a half of this amount to purchase the domestic and foreign suppliers’ equipment and materials.
Under Gazprom’s Cost Reduction Program for 2003, the Company plans to cut costs by RR 40 billion. In the 1st quarter of 2003 Gazprom’s expenditures fell RR 23.4 billion, which is RR 7.7 billion more than targeted.
Information Directorate, OAO Gazprom