08 June 2004 06:51
Gazprom expects revenue rise in 2004
MOSCOW. June 8 (Interfax) - Russian gas major Gazprom expects higher than the earlier planned 1.15 trillion rubles in
revenue in 2004, Alexander Dushko, the deputy head of Gazprom's finance department, told shareholders in
Moscow.
Gazprom had planned revenue of 1.15 trillion rubles based on Russia's macroeconomic development, he said.
"The price of gas on the world market is such that we will receive more revenue from gas exports than
planned," Dushko added. It is too early to name more specific figures, but revenue is not going to be lower than
targeted, he said.
Gazprom Deputy Chairman Alexander Ryazanov said earlier that the
company's budget for 2004 contains the gas export price of $127 per
The issue of ADS on 4.58% of Gazprom shares that are held by
Gazprom Finance BV is unlikely to be considered until the matter of
Correspondingly, company profit will be around the same level as in 2003, Dushko said.
thousand cubic meters of gas at the border between Slovakia and Germany.
Gazprom's 2004 borrowing program totals 150 billion rubles, including 89 billion rubles to be raised through
bonds with 15 billion rubles in ruble bonds, Pyotr Bakaev, the head of the company's financial markets department,
said. Gazprom has already placed 10 billion rubles in bonds.
share market liberalization is resolved, Bakaev said.
Gazprom's foreign and domestic share markets are currently separate so foreign investors can only trade the
company's shares in the form of ADS. The aim of liberalization, as expressed by the government and the company
itself, is to merge the foreign and domestic share markets. [RU ASIA EUROPE EEU EMRG ENR RESF CORA NGS TRD RES] me
[Interfax] |
RUSSIA IN FACTS
