Board of Directors addresses implementation of Gazprom’s 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 Company’s financial strategy guidelines.
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.