Gazprom told about «safety cushion» in twenty milliard dollars
14:12 12 февраля 2015
Категории: News in English
On the 17th of February the Board of directors of Gazprom will discuss the budget for this year. In particular, stress-tests of the financial plan of the concern at the price for oil in 40 and 50 dollars per barrel will be presented, as RIA «Novosti» informs.
The investment program of the holding company was approved in the amount 840 milliard and 350 million rubles. It is approximately on 18 percent lower than the final variant of the last year program. As it is declared by the financial director of Gazprom Andrey Kruglov, by the results of last year the company decreased the debt on 10 percent and has cash funds in the size 20 milliard dollars. The sum of short-term obligations of Gazprom makes 7 milliard dollars, and the company is able to satisfy them at expenses of its own resources.
As Andrey Kruglov says, in comparison to some other participants of the market, Gazprom met the beginning of the crisis in excellent financial state. During the period of high prices for oil the company did not purchase large assets. It has never built long-term forecasts with use of prices for oil higher than 90 dollars per barrel, as he notes.