Moscow press review for November 25, 2011
MOSCOW. Nov 25 (Interfax) - The following is a digest of Moscow newspapers published on November 25. Interfax does not accept liability for information in these stories.
VEDOMOSTI
Russian President Dmitry Medvedev could hardly imagine gas giant Gazprom's response to his instruction to cut costs. Executing the presidential instruction, Gazprom drew up "suggestions on methodical approaches to determine costs reduction targets." They were forwarded to the Economic Development Ministry in September, while Gazprom itself formulated special purpose draft methods. Gazprom Deputy CEO Dmitry Golubev's report, prepared for a board of directors session, does not disclose any details of what has been done. It only says that the company's plans include increasing the share of acquisitions at tenders, expanding design funding methods, as well as "switching to social program funding with the use of government support measures." The company also asks the state to speed up the indexation of domestic gas prices or to grant tax incentives. ("Mutual economy")
Russia's oil pipeline operator Transneft planned to put the Baltic Pipeline System-2 into operation by December 1, but it became known recently that Piers No.4 and No.5 at Ust-Luga Port would not be ready by this date. Russia's environmental, technological and nuclear watchdog Rostekhnadzor uncovered violations accompanying the construction of the port's facilities, including eight breakdowns at Piers. No.4 and No.5, which have been built by the Neva Pipeline Company and Rosneftbunker, controlled by Gennady Timchenko's structures. Transneft postponed the launch of the Baltic Pipeline System-2 until December 15-20, the operator's president Nikolai Tokarev said a week ago. ("Launch deadline failed')
Russian companies that saved on taxes paying interests on foreign loans will have to pay for it. Tax authorities have started to win disputes with major companies - Rosneft's granddaughter has already lost 1.7 billion rubles. Lukoil and Vimpelcom will follow suit. ("Money stays where it is")
Eldorado general director Kakha Kobakhidze is stepping down. He will be replaced by the store chain's vice president Igor Dolezhel. Previously, he held high-ranking posts at PPF structures in Russia and Belarus, where he headed the Home Credit bank. Eldorado's vice president for security and legal support Oleg Sukovatov will perform the general director's duties until all of the required procedures are finalized. Market players have suggested that the company's main owner - Czech PPF - is unhappy with the retailer's performance. ("Left without Eldorado", also Kommersant - P. 9, "PPF Group eaten by consumer electronics")
KOMMERSANT
Novatek is acquiring Mezhregiongaz Chelyabinsk, Gazprom's regional distribution company in the Chelyabinsk region. It sells around a quarter of the amount of gas to be sold by entire Novatek on Friday. Market players have said that Gazprom, which specializes in gas exports, has had to sell an ever-growing amount of operations on the domestic market to independent producers. (P. 9, "Gazprom leaves Chelyabinsk to Novatek")
Russian oil companies will not be able to meet the government's target for rational associated gas use at the level of 95% in 2012, WWF ecologists have concluded. They think that the target set by the government will not be met even by 2014 without sharply hiking penalties and offering tax incentives. (P. 6, "Tundra will not be left without lighting")