In 2012 Gazprom Energoholding optimizes costs by over RUB 7 billion

Denis Fyodorov, Head of the Directorate for Power Sector Development and Marketing in Power Generation, Gazprom; Director General, Gazprom Energoholding

The Gazprom headquarters hosted today the Press Conference “Gazprom's Power Generation Strategy” held on the threshold of the Company's annual General Shareholders Meeting. Taking part in the Press Conference was Denis Fyodorov, Head of the Directorate for Power Sector Development and Marketing in Power Generation of Gazprom and Director General of Gazprom Energoholding.

It was highlighted that Gazprom Group owned the largest power (generating) assets in Russia with an aggregate installed capacity of about 38 GW. Compared to 2008, the total proceeds of generating companies within the Group grew 1.53 times, EBITDA – 3.22 times, net profit – 8.16 times.

Gazprom Group is the major investor in the Russian power sector. From 2007 to date, Gazprom has already commissioned a total of 5.1 GW (out of 9 GW scheduled) of generating capacities within capacity supply agreements (CSA).

In 2013 construction within CSA continues on new highly efficient capacities that will help improve the operational and financial performance of generating companies.

Intensive work is underway to increase the value of Gazprom Group's generating assets. In particular, cost optimization programs as well as programs aimed at improving the financial indicators are in progress. This made it possible to optimize costs by RUB 7 billion 268 million in 2012. Further implementation of respective measures is planned to help cut Mosenergo's costs by RUB 1 billion 226 million, TGC-1's costs – by RUB 1 billion 646 million, OGK-2's costs – by RUB 886 million.

The Press Conference also addressed a variety of issues concerning the operation of Gazprom's power facilities in Russia's regions.

Gazprom website Editorial Board

Related news