Board of Directors addresses Gazprom’s insurance activities
The Gazprom Board of Directors meeting finished at the Company’s headquarters.
The Board of Directors considered the progress with the work being done to provide insurance for the Unified Gas Supply System (UGSS) facilities and insurance coverage for the Company’s interests related to export gas supplies.
The Company’s specialized subdivisions were tasked to proceed with the insurance activities based on insurance coverage optimization and with forward-looking efforts in arranging the gas exports insurance.
In addition, the Board of Directors addressed the Basic Provisions of the Comprehensive Program for Gazprom’s Activities on Foreign Markets. The Company’s Management Committee was entrusted with shaping the Comprehensive Program for Gazprom’s Activities on Foreign Markets with due regard to the discussion held.
The UGSS facilities insurance coverage involves the property and work insurance in hydrocarbon feedstock extraction, transportation, storage and processing including the liability of hazardous production facilities operators.
Gazprom pursues the policy for insurance of the corporate interests related to gas exports through arranging, managing and controlling the insurance coverage of the Blue Stream, Nord Stream and South Stream projects.
At present, Gazprom is making efforts to improve the existing insurance coverage of the UGSS facilities. For instance, the Company is getting ready to arrange new tenders for the right to enter into property insurance contracts with Gazprom and its subsidiary companies.