Gazprom seeks to fully finance supply system upgrades with domestic sales
KIRISHI. March 26 (Interfax) - Gazprom wants to fully finance the overhaul and modernization of the unified gas supply system with revenues from the domestic market, the Russian gas giant's CEO, Alexei Miller told reporters on Friday.
"Right now we only cover 60% of work on the unified gas supply system [with profits on domestic gas sales] and cover 40% of our requirements with revenues from the foreign market. Our goal is to finance 100% of the modernization and overhaul of the unified gas supply system with earnings from the domestic market and not depend on exports," Miller said, commenting on Prime Minister Vladimir Putin's statement that Gazprom will not be allowed to further increase wholesale prices this year in addition to the previously announced hike.
Miller said Gazprom is a state company and it will act in accordance with the decisions that have been made.
