“ Gazprom “ prozasedalsjasession of board of directors " Yesterday has taken place; Gazprom “. Any official statements on its results at the moment of number delivery in the press it has not been made. In the agenda there were too important questions, among them share market liberalisation “ Gazprom “ release of eurobonds for the $750 million sum, and also the repayment of 32 % of actions of affiliated company “ Purgaz “ which have caused too heated arguments and have tightened discussion.
session of board of directors has begun in 18. 00. However to 21. 30 press - service “ Gazprom “ has not made any official statement, and mobile phones of councillors of directors have been disconnected - they continued to argue.
the question on liberalisation of the share market of the company stood the first in the agenda. According to the interrogated analysts, this question should not cause disagreements among councillors. So, according to the director of department of consulting of the company “ Unikon “ Andrey Sinjagina, “ now there are serious bases for start of the program of stage-by-stage liberalisation of the share market ` Gazprom ` as the today`s condition of this market cannot satisfy to interests of development neither the company, nor potential strategic investors “.
the question on forthcoming placing of eurobonds (yesterday`s number see) was More difficult. It is known that some months “ Gazprom “ prepared for this event. However initially it was a question of loans for the sum of $300 - 400 million, now mister Miller named the sum of $750 million According to plan “ Gazprom “ eurobonds it is planned to let out till the end of the year with repayment term in the second half of the year 2005. Listing of eurobonds will pass at the Luxembourg stock exchange. However, according to experts of the gas market, the eurobond “ Gazprom “ Can remain not claimed, considering the general debts of the company in $21,5 billion Apparently, the sum of loans and became a subject of heated arguments of councillors.
and one more important question which could become the reason of prolonged session, - discussion of a question on the repayment of 32 % of actions of affiliated company “ Gazprom “ - Joint-Stock Company “ Purgaz “. Last time a question on control restoration over the affiliated structure board of directors “ Gazprom “ discussed in July. Already then in “ Gazprom “ recognised that returning “ Purgaza “ in a bosom “ Gazprom “ - the question political also will dare it political methods. The matter is that it is primary these actions have been sold “ Gazprom “ the companies “ Itera “ (“ Purgaz “ has the licence for the Gubkinsky gas deposit in Jamalo - Nenets district with the confirmed stocks more than 380 mlrd cubic The m of gas also provides 70 % of volumes of extraction “ Itera “). Now “ to Gazprom “ 19 % of actions " belong; Purgaza “.
Then and in “ Gazprom “ and in “ to Itera “ asserted what to return actions “ Purgaza “ to concern it is economically unprofitable. The matter is that under purchase and sale treaty provisions between Open Company “ Linko - optim “ (the enterprise supervised MGK “ Itera “) and the enterprise “ Nojabrskgazdobycha “ (affiliated company “ Gazprom “) Till January, 1st, 2002 “ Gazprom “ can return itself of 32 % of actions for the same 32 thousand rbl., as sold, having returned thus “ to Itera “ all investments enclosed in development of the Gubkinsky deposit ($194 million). If “ Gazprom “ has used the right of the repayment of this package, it would mean that the company dvizhut political, instead of economic motives (really return “ Purgaza “ will manage twice more expensively - almost in $400 million). Then in “ Gazprom “ have reminded that the concern receives a gain for rendered “ to Itera “ services in transportation of gas at a rate of $200 million a year. And if “ Purgaz “ it will be recognised affilirovannoj “ to Gazprom “ the company these services become free. Thus at “ Itera “ there will be a package in 49 % of actions “ Purgaza “ and she will get additional profit, simply being the shareholder of this company. “ Nojabrskgazdobycha “ Some times addressed in “ Gazprom “ with the request to compensate investments “ to Itera “ and to return actions “ Purgaza “ back in “ Gazprom “ but the concern management then was against.
it is detailed about decisions of board of directors will tell tomorrow.
IGOR - ZIMIN