Gazprom Management Committee approves new power generation strategy
The Gazprom Management Committee approved the Company’s power generation strategy for 2018–2027.
It was noted that by this date Gazprom had successfully created the largest vertically integrated power holding company in Russia. The core assets in such areas as power and heat generation, heat transfer and marketing are consolidated in Gazprom Energoholding. The assets have the aggregate installed capacity of 38.8 GW. Gazprom Energoholding is one of Europe’s top ten power producers.
Gazprom’s investment obligations under capacity supply agreements are nearly fulfilled, with 8.6 GW of new high-performance capacities brought into operation and 3.7 GW of inefficient generating facilities consequently decommissioned. Work is underway on the final CSA-based project – construction of the Grozny TPP. The Gazprom Energoholding Group is financially sustainable: in 2007–2017, its annual revenue growth averaged about 15 per cent.
A key strategic goal of the Company’s power generation strategy for 2018–2027 is to achieve sustained profit growth while maintaining the reliability of energy supplies for consumers.
The strategy entails, inter alia, building and upgrading generating capacities, as well as decommissioning facilities that are no longer economically viable. Particular attention is paid to further improvements in operational effectiveness, technological development, and the use of import-substituting equipment. In addition, Gazprom is committed to diversifying its power business by entering promising markets in Russia and abroad.
The issue of Gazprom’s power generation strategy for 2018–2027 will be submitted for consideration by the Company’s Board of Directors.