Board of Directors addresses implementation of Gazprom’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.